The chapter explores the increasing popularity of art secured loans, discussing how lenders have seen a 120% surge in art-related lending since 2019, leading to more people using artworks like Picassos as collateral due to tightened lending standards and lower art prices. Auction houses are now competing with banks by offering loans at competitive rates but face challenges in replicating their unique loan performance data model, raising doubts about the long-term sustainability of this trend.
After 14 years in opposition, Britain’s Labour Party is on track for a comprehensive win in next week’s general election. We profile Keir Starmer, its leader, asking whether his modus operandi can turn the country around, too. Despite the obvious distractions phones represent, Americans want their children to have them in schools (10:50). And auction houses get into the business of “art-based lending” (16:40).
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