Category Archives: fine art lending

In The Golden Age of Aviation – Longines Were King

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Since its invention, the watch has been associated with mankind’s greatest endeavors, and the conquest of the skies is no exception. Like the sailors, who almost two centuries before the invention of flight, would strike out in search of the new world, aviators would need the help of a timepiece to follow their route across open skies without a landmark to guide them.

As aviation entered into its Golden Age between the two World Wars, watchmakers would become essential partners with these new adventurers and the Longines watch company would become aviation’s associated partner.

Being the official timer of the Olympics, Longines was a well-respected time keeper and a name that people knew. In 1927 when Charles Lindbergh flew his famed non-stop, solo Atlantic crossing, it was Longines that timed the event; total time was 33 hours and 30 minutes. When Lindbergh left Roosevelt Field in Long Island, NY and landed at Le Bourget Field in Paris, France he became an international sensation and a true celebrity.  Imagine flying all that way across the ocean and keeping your bearings. Over the ocean there is just water, sky and clouds. For ships as well as for planes, determining longitude at sea is the trick, and Lindberg and Longines would rise to the navigational challenge.

Together they would produce a navigation watch that enabled calculating a precise location despite the accuracy shortcomings of the time.  But before Lindbergh collaborated with Longines, there was P. V. H. Weems.  In 1929, Navy Captain Phillip Van Horn Weems developed the Weems Second-Setting Watch for nautical navigation. The watch also quickly became an aeronautical tool. Given the turbulent cockpits and the thick gloves needed for altitude flying, the Weems was typically oversized. This 48mm watch’s distinguishing characteristic was its rotating center seconds dial. Pilots could listen to the minute beeps over the radio and adjust the dial, which maintained accuracy. The rotating inner dial displayed the correct minutes and graphically showed the margin of error from the original set time.

Lindbergh set out to update and improve the Weems watch based on his experience of flying over the Atlantic. He explained to Longines what he needed from a navigational watch, and the watchmakers went to work, with Charles Lindbergh giving his stamp of approval on the final product. In 1931, the Lindbergh Hour Angle watch was born. With Lindbergh’s global notoriety; it was a huge PR boon for Longines, and they sold the watch to working pilots and the adoring public alike.

The updated watch allowed pilots more easily to determine the Hour Angle, the watch’s namesake, which is a technical description of finding longitude based on the Greenwich Mean Time. Lindbergh’s watch aided navigation with the addition of markings to dial and bezel that made the hour angle calculation easier. A pilot could now confidently determine his position even over miles of open water.

Lindberg’s personal Hour Angle Watch is now part of the Smithsonian’s Air and Space Museum in Washington D.C.

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Today, vintage Hour Angle watches are relatively rare, although they come up for auction on occasion.  In 1987 Longines first produced a commemorative edition of the Hour Angle watch to celebrate the 60th anniversary of Lindbergh’s flight.

 

If you or someone you know would like to share or are interested in receiving more of our little known but true stories about luxury collectibles please email us at info@eliassoncapital.com or like us on Facebook.  Eliasson Capital provides collateral loans on fine art and collectibles.

The Spring Season Begins With TEFAF

TEFAF

TEFAF is widely regarded as the world’s pre-eminent organization of fine art, antiques, and design.  TEFAF, once known as The European Fine Arts Fair, has existed in Maastricht, the Netherlands, since 1988. Building on its history and success, the fair expanded globally last year, adding two New York editions: A fall fair focusing on art and antiquities up to 1920 and a spring edition that highlights the best art and design produced from the Modern era up to today. Besides attracting the world’s top galleries, what sets TEFAF apart from other leading art fairs is the great emphasis it places on quality through a rigorous vetting process in which each work is checked for quality and authenticity by experts.

As the world’s most buoyant art market, New York City provides the ideal location for the TEFAF Fair.  The Park Avenue Armory on Manhattan’s Upper East Side was home to the second edition of TEFAF New York Spring which ran from May 4 – May 8, 2018. The historic Armory provides the prime setting for the world’s leading art dealers to meet with curators and collectors. The Fair’s timing in early May is intended to coincide with auctions, exhibitions and other fairs in New York dedicated to modern and contemporary art and design, including Christie’s expansive sale of Peggy and David Rockefeller’s collection

The well- heeled crowd, including some of the biggest collectors in the world, streamed into the Fair on opening day. The aisles were jam-packed with people sipping Champagne and shooting freshly shucked oysters as gigantic cylinders of flowers hung from the ceiling above them.  With about 90 dealers in attendance, the Fair brought out deeply blue-chip art.

Nahmad, whose booth right next to the entrance, presented works priced from seven figures on up: a Jean Arp at $1.5 million, a Max Ernst at $12 million, a Fernand Léger at $13 million, and a Joan Miró at $15 million.

David Zwirner had gone with modern masters, Josef Albers (two works by the artist sold by late afternoon, for $1.75 million and $750,000 and Giorgio Morandi, with two works also selling, for undisclosed prices.

Not far away, Hauser & Wirth was presenting pieces by Eva Hesse, Philip Guston, and Louise Bourgeois, and early in the day it had already parted with a late Guston—painted in 1979, the year before his death—for $5.5 million.

With the success of the auction business, art fairs have grown in size and number in recent years. While auctions create a pressured environment to buy, art fairs like TEFAF provide a more relaxed environment. TEFAF champions the finest quality art from across the ages by creating a community of the world’s top art dealers and experts to inspire lovers and buyers of art everywhere.

If you or someone you know would like to share or are interested in receiving more information about the luxury collectible market please email us at info@eliassoncapital .com or like us on Facebook.  Eliasson Capital provides collateral loans on fine art and collectibles.

Is Your Art Worth Something?: A Quick Guide

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Appraising is an art, not a science, and market trends can quickly cause fluctuations in prices. While most people hire an appraisal expert in order to arrive at a dollar value, it’s possible to figure out if your art is valuable or not.

Is it a One of A Kind?

Original art is worth more than prints or lithographs.

Many prints can seem original but here are a few tricks to tell the difference:

  • Look for brush strokes. Real paintings will have real brushstrokes. The brushstrokes will vary in size and texture.
  • Hold the painting up to the light and look at it from the BACK. You should be able to see variations in the light coming through the back of the canvas. This is because artists use varying degrees of heaviness of paint in certain areas. A lithograph on canvas will not have these variations.
  • A real painting will almost always be signed by the artist in the lower right hand corner. The artist’s signature should have a dimension to it if it is signed with real paint.

Is the Artist Well Known?

Artists generally fall into three categories of renown: well-known, up-and-coming, and unknown. Artists who are well-known and have a rich history of collection can almost always command more value more than artists who are unknown.

Does the Painting Itself Have History?

Find out if the piece of art has ever been owned by someone renowned. Barring the artist themselves, works of art that were formerly owned by someone famous or well-known can command much higher prices than those pieces who don’t.

Condition

An item that is ripped, water-damaged, discolored, or otherwise damaged can return significantly less than an item that is in perfect shape. Note that an item that isn’t technically damaged but isn’t as vibrant as it was when first completed will qualify as having a “condition issue.”

If you think your art may be worth something you should contact a certified art appraiser to help you put an exact value on your art. The fine art market is very volatile so don’t trust that a painting worth a certain amount in 1990 will hold the same value as today.

 

Artwork Loans

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Eliasson Capital helps you unlock the true value of your fine art collection.

With the availability of our unique artwork loans you can now turn your artwork into liquidity without selling it.

Loans Against Fine Art

Whether you are an art collector, art dealer, gallery or the owner of a single piece of artwork Eliasson Capital can offer a unique financing opportunity which can get you instant cash for your collateral.

While alternative funding options may require you to sell your fine art, Eliasson does not. We will provide you with a valuation on your art based on multiple variables in our market analysis process. Once a value is established and agreed upon, Eliasson Capital can furnish a loan to you based upon this collateral. You can repay the loan at any time for the return of your artwork from our secure facility.

Is an Artwork Loan right for me?
If you need immediate liquidity and do not want to sell your artwork we can help. If you want to avoid credit checks or the typical bank loan process please give Eliasson a call. Eliasson Capital can close your loan fast, offering some of the quickest turnaround times in the industry.

It’s fast, it’s discreet and it’s secure.

Advantages of Collateralized Lending

 

asset based lending is a  better option for working capital

Collateralized lending is becoming quite a popular alternative to traditional bank loans, but why? What do you do when you need to have working capital at a moment’s notice?  As bank loans are increasingly harder to come by, asset based lending is quickly becoming a popular alternative to traditional bank loans for acquiring working capital fast.  Why are so many people choosing asset based loans over traditional ones?

 

Improved liquidity

When used correctly, asset based lending or collateral loans can provide you with financial stability and predictable cash flow. This benefit can help stabilize operations for companies that are growing rapidly, have tight cash flows, or have seasonal revenues.  For individuals, unlocking the value in assets such as fine art or luxury vehicles can cover unexpected expenses or opportunities that just can’t wait.

 

Easier to get than loans and lines of credit

Qualifying for collateral based financing program is easier than qualifying for a bank loan or line of credit. If you have an asset or object of value you can borrow against it. It’s that simple.

All transactions are private, secure and will not affect your credit.

Your valuables are kept in a climate controlled location in a secure facility that utilizes some of the most advanced security technology available. Once the loan is paid off your assets will be returned to you.

 

Can the loan be obtained quickly?

Once your assets are appraised you can have your money in as little as twenty-four hours.

collateralized lending agencies like Eliasson Capital help businesses and individuals to unlock the value of their assets allowing them to become liquid in as little as 24 hours.

Using Personal Asset Lending and Merchant Cash Advances to Help Your Small Business Grow

 

Asset Based Lending and Merchant Cash Advances for Small Business

Here’s a fundamental truth of any organization: you need cash to help grow your business. Whether you’re a start-up, a sole proprietorship, or a limited liability corporation, getting a small business loan will be one of your top priorities. Unfortunately for many new and small businesses getting the cash needed to grow can be difficult and costly.

It used to be that the only way to gain access to cash were to go to banks which had their own difficult and long process, time you nor your business has. Luckily in this new economy other options for small business funding have popped up.

Personal Asset Lending allows you to use assets like cars, equipment, and jewelry to get working capital for your business. Loans against art and other valuables can also be used as collateral.

Most small businesses do not have extra assets or equipment just laying around. In cases like that a merchant cash advance can be a beneficial and flexible option to obtain working capital needed to grow.

A merchant cash advance, more commonly referred to as an MCA is simply a purchase of future credit card sales.

A typical bank loan requires fixed monthly payments and doesn’t take into account the fluctuation of seasonal sales. If things are slow a business can struggle to make the payments at detriment to the growth the loan was originally supposed to foster.  A MCA is based on percentages of sales allowing leeway during a time when sales are low.

Merchant Cash Advances are also easier to come by than a bank loan. The application process is much shorter and a business can have their money in as little as twenty four hours.

Lump Sum vs Annuity

If presented with the option of getting a pension check for life or getting a lump sum, what’s the better deal?  This is a decision that should be weighed carefully and because each individual’s financial status is different, there is no cookie cutter way to decide which option is best.

Getting a monthly annuity certainly has a certain allure — you get a steady paycheck for life.

But getting a lump sum can be a more attractive option if you manage the money well. Why? The biggest drawback of an annuity payment is that pensions are rarely indexed for inflation. At an annual 3 percent inflation rate, a monthly check worth $2,000 today would be worth $1,488 in 10 years, and $1,107 in 20 years. That’s a huge reduction in purchasing power.

Also, it’s not the best time to arrange for a pension check because annuity payment calculations are based on prevailing interest rates. In a low-interest rate environment like we have now, getting an annuity would involve locking in a low rate of return for the rest of your life.

Taking the lump sum allows you to invest the money for the short term until interest rates are more favorable because of the  flexibility and the power to invest aggressively to make your money last longer.

If you are in debt or have large expenses, getting a lump sum cash payout can save you money on interest payments.

What do you do if you are stuck with an annuity or structured settlement and need cash  now? There are services that allow you to borrow against your annuity in whole or in part. This is an especially cost effective option if that money can save you from bankruptcy, foreclosure or any number of financial emergencies that may arise.

Asset Based Loans

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Asset-based lending, once considered a last-resort finance option, has become a popular choice for companies that don’t have the credit ratings, track record or patience to pursue more traditional capital sources.

Because asset-based lenders focus on collateral, rather than credit-worthiness, they do deals that more traditional lenders shy away from. Borrowers put up equipment, inventory, accounts-receivable and other liquid assets in exchange for the money.

Asset-based loans can be a much-needed source of capital for companies that are rapidly growing, highly leveraged, in the midst of a turnaround or undercapitalized. Sometimes a company simply needs that infusion of cash to get over a financial hump or to keep growing.

These type of loans are especially well-suited for manufacturers, distributors and service companies with a leveraged balance sheet whose seasonal needs and industry cycles often hamper their cash flow. Asset-based loans can also be used to finance acquisitions.

Many small businesses that seek asset-backed loans are distressed companies, or have spotty or short track records.  Asset-based loans can be a much-needed source of capital for companies that are in the midst of a turnaround or expanding   faster than they can keep up. Sometimes a company simply needs that infusion of cash to get over a financial hump or prevent growth from stalling out.

Personal Asset Loans Offer Safe Options for Obtaining Quick Liquidity

 

Asset based loans through Eliasson is fast and easy
asset based loans through Eliasson Capital is fast and easy

 

Eliasson Capital offers a convenient, and straightforward way to access working capital via personal asset loans.

People who do business with Eliasson Capital realize that they have tremendous value locked in many of their personal assets.  We give them an opportunity to unlock this value and take advantage of opportunities, lifestyle enhancements (country club dues, vacation rentals, special occasions), or simply working capital for their small business.

Eliasson Capital makes it possible for high net worth individuals to leverage luxury items like cars, fine art, jewelry and designer watches as collateral for a low interest loan in a fraction of the time it takes to process a formal bank loan, with absolute privacy.

Eliasson Capital keeps collateral in their state of the art, secure storage facility while the loan is being settled, whether it’s a Patek watch, Picasso or Ferrari.