With the upcoming launch of Skate’s Art Loans Database next week, Skate’s, the global market leader in art business intelligence, has published some analytics in an effort to measure and track the use of leverage in the art trade. Skate’s Art Loans Database is an extensive database of all the public Uniform Commercial Code (UCC) filings that are practiced in the United States as well as some international lending transactions to secure a pledge over artworks used as collateral in art lending agreements.
As a preview to the upcoming launch, Skate’s ranks the world’s most active borrowers in the art gallery world based on the number of UCC art-collateral pledges over the past ten years (note figure in [brackets] represents the number of borrowings) as follows: (1) Gagosian Gallery ; (2) Paul Kasmin ; (3) Wildenstein & Co. ; (4) Pace Gallery ; and (5) David Zwirner . Gagosian Gallery tops the list as the most aggressive borrower, according to Skate’s data.
Skate’s notes that art galleries do not typically use art lending in their business and the combined art-lending book of the above top five art galleries is “significantly less than the art-lending books of Christie’s and Sotheby’s.”
A glimpse of the above rankings reveals the Gagosian Gallery’s secret to success may simply be that the gallery makes better use of leverage than anyone else in the art gallery world.