The platform enables borrowers, lenders, investors and insurers to convert art into a liquid asset by assessing, scoring and monitoring the risk of works of art.
Overstone Art is expanding its global reach with the appointment of Sophie Brown as part of its international team, based in Singapore, according to an announcement by the art services company.
Brown brings an extensive network of high net worth individuals, family offices and established financial institutions. She trained as a Chartered Accountant with PwC in London in 1999 and later worked on M&A and debt structuring. She has worked for private equity-owned, family-owned and FTSE 250 businesses and been finance director of several companies.
Opportunities for Collectors
She will be responsible for developing new business relationships, promoting products and services across Asia, where interest in art has been growing young collectors as a value-preserving asset, the announcement said.
Art has long been considered a passion investment, with 75 percent in private collections considered «dead» assets, unleveraged and amassing maintenance costs, Overstone said, noting that its platform helps collectors generate liquidity from their artworks.
«Art assets incur legal and maintenance costs balanced against potential price appreciation, so understanding the full financial potential of an artwork is only the next level towards a holistic wealth management strategy,» according to Brown.
