Comments on: A visit to Art Capital Group

By: Jaromir Svozilik

Jaromir Svozilik — Mon, 07 Sep 2009 15:32:38 +0000

-MAKE MONEY NOT ART-
-MAKE LOVE NOT ART-

By: Susan

Susan — Sun, 14 Jun 2009 20:55:39 +0000

I read that ACG is about to force Annie Leibovitz into bankruptcy having loaned her something like 20 million dollars. She has apparently defaulted and will likely loose a lot in the end, including all of her houses and the rights to much of her enormous archive. Why would anyone be so crazy as to do business with these guys? I mean you would think someone like Ms. Leibovitz would have a CPA or an attorney that would say “Don’t do it!”

Oh well, how the rich have fallen…

By: Chris

Chris — Thu, 11 Jun 2009 20:05:54 +0000

Er, that guy who doesn’t want your kid will eventually sell the kid as a sex slave and make a handy profit. It’s just a slight delay on an irreversible immediate sale of your kid. The intermediary’s attitude toward the “collateral” is irrelevant – it’s a business transaction.

To be perfectly honest, if you’re willing to use your kid as collateral, you probably deserve to not get him or her back. Not terribly fair to the kid, or course.

By: jonathan

jonathan — Wed, 10 Jun 2009 22:37:23 +0000

What a terrific post! So they’re loan sharks for people short of cash who have a portable asset of value. (Or to be nice you could say they’re a private pawn shop.) I know of a person in Asia who lends money to people in need of liquidity and keeps a child as collateral. Sounds awful, doesn’t it? But think: the art lenders want you to default while this person really doesn’t want your kid, so if you take out the repugnance factor the latter is actually a nicer loan.