Accessing the Value of Fine Art You Own

Should you be in a position where you need to borrow money quickly, taking a loan out against fine art you own can be an effective way of getting the cash you need.

However, to access the value of your pieces it's a good idea to get in touch with a pawnbroker.

Doing so can be a fairly simple process, although there are several factors that you will have to consider when it comes to applying for a short term loan.

It should go without saying, but you will only be able to borrow against pieces by artists who have a reputation in their chosen field (generally fine art must be worth at least £1,000 in order to take out a loan against it) and works by total unknowns are unlikely to command a notable sum.

With this in mind, works from both modern artists including the likes of Banksy and Damien Hirst, as well as historically-renowned painters such as Vincent van Gogh, Salvador Dali and LS Lowry, have attracted high sums of money at auction, not only because of the quality of the pieces but also the prestige that is attached to them.

Paintings and drawings are usually adorned with the artist's signature at the bottom, so this could also enable you to take out a higher loan when visiting a borrower that specialises in pawning art.

Authenticity is perhaps the greatest underlying factor that determines how much a piece of fine art is worth (and by extension how much you can borrow) and while the artist's signature could help to prove this, any supporting documents that you own - perhaps a certificate from the company you purchased the piece from - may also help.

The condition an item is in is another important thing that you should consider when accessing the value of your art. Generally speaking, paintings that are free of damage will attract higher sums than ones that look faded or have dents or scratches.

However, you should remember that the value of your art could fluctuate depending on current market trends. So if, for whatever reason, 17th century Italian Renaissance items are currently enjoying a surge in demand, it could be a good time to borrow against them in order to get the maximum amount possible.

It may also be worth your while to browse price guides and auction house records to get an idea of how much similar pieces are worth and the sums of money people have been able to borrow through them.

With a little time and effort, you can get a very good idea of just how the value of your art and the size of loan that you can expect to be offered.

Accessing the value of your pieces should not be too difficult a task and by doing so you can be confident that the sum pawnbrokers quote you is fair.