For many high-net-worth individuals, keeping the details of your art collection confidential will be extremely important. Privacy is paramount if it is not public knowledge that you are the owner of the art for security and privacy reasons. Naturally, you may also want to ensure that there is confidentiality around the fact that you wish to use your art as collateral for a loan, regardless of your motivation for this type of financing.
For their part, lenders will want to perform their own due diligence, both on your art and your ownership of it. Lenders will verify that you are the owner of the art and authenticate your ownership's provenance, plus that of previous owners. Ensuring that the art is authentic is also a critical point for lenders.
Enness only work with the best lenders in the field of art financing. Any lender Enness approaches for art-backed financing understands the requirements of operating in this part of the market: confidentiality, dependability and discretion are all standard.
However, if required, Enness will be able to keep the details of your ownership confidential in the initial stages of negotiations. To do this, your broker can provide details of the art you wish to secure collateral against and give basic details of your profile without revealing your complete identity. Lenders can give in initial "in principle" style offers to Enness as a well-known party with a trusted reputation. That said, the terms and finer details will require that you give the green light to share more information with lenders in the form of documentation, photographs, specific details about the art and other relevant information. However, many clients appreciate being able to have Enness negotiate starting offers while maintaining confidentiality in the initial stages of art-backed financing.