Kelly Crow gives Asher Edelman some press in the Wall Street Journal for his new third-party guarantee business
Mr. Edelman recently set up his own firm, Art Assured Ltd., to arrange art investments. […] Going beyond art lending, he says he intends to stake money on artworks bound for auction, a niche only a few financiers have even explored. […] When a seller consigns a work to auction, Mr. Edelman’s firm, Art Assure, will pledge to buy the piece if it doesn’t sell for an agreed-upon minimum price. In exchange, the seller will pay the firm a fee of about 5% to 10% of the work’s guaranteed price. Continue Reading