Numbers a lending desk will lend against.
A collection can work as capital without leaving the wall. Private banks and specialty art lenders advance against it, but only against values they can underwrite. Cove prepares the appraisal the lending desk actually asks for, on the bases they actually use.
Underwriting runs on evidence, not enthusiasm.
An art-secured loan is priced off what the lender believes the collateral would actually bring. The stronger and more current the evidence, the better the conversation about how much, and at what rate.
Two values, both needed.
Fair Market Value for what the work would change hands for, and Marketable Cash Value for what you would net after the costs of selling. The desk sizes the loan off the second one.
A fraction of the value.
Lenders advance a portion of appraised value, and that portion moves with their confidence in the number. Documented provenance and current, evidenced values are what confidence is made of.
The value keeps mattering.
Collateral does not stop being appraised at closing. Lenders revisit values over the life of the loan, and a monitored collection answers those check-ins without a scramble.
A package built for the credit file.
An appraisal prepared to USPAP standards on the bases the lender specifies, with the collateral documentation that keeps underwriting moving instead of stalling.
Both values, evidenced.
Fair Market Value and Marketable Cash Value per work, with comparable sales sourced, dated, and attached to every number.
Provenance and title, organized.
The ownership story a lender's counsel wants to see, documented and filed against each work, ready to share on your terms.
Monitoring built in.
Every appraised work stays monitored in the living record, so periodic revaluation over the life of the loan starts prepared instead of starting over.
Cove prepares the appraisal and the documentation. Cove is not a lender and does not arrange financing: the loan is between you and your bank or art-finance provider, working from numbers built to be checked.
Already in Cove? The file is already built.
If the collection is already in Cove, most of what the lending desk asks for exists before they ask: cataloging, provenance, condition, and current evidenced values. The engagement is an update, not an expedition.
If not, a lending conversation is a strong reason to build the record once, properly, and have it working for every purpose after this one.
Appraisals for what comes next.
Tell us about the loan.
What stands behind it, who is lending, and the timeline. We will confirm the bases the desk requires and quote the engagement. From $100 per piece, scaling with volume.
Thank you.
A member of the Cove team will be in touch shortly.