A $15 million pawn loan
February 26, 2009 | alternatives, industry | Comments (0)With a celebrity thrown in. We liked this story:
Annie Leibovitz, the photographer renowned for her portraits of many of the world’s famous and powerful, has pawned off the copyright and negatives of all her work and any future photos to a New York City art lender in order to raise money to cover her debts.
The New York Times reported that Leibovitz borrowed US$15.5-million from Art Capital Group and used her works, as well as some of her property, as collateral.
