Her pics are only worth what someone will pay for them. I seriously doubt in the current recession that anyone would buy them at less than a fire sale price, particularly since they know she’s in financial straits.
Maybe a Spielberg would bail her out, but she’d still lose control of the photos.
there is quite a bit out there on this
seems our nemesis here on FR... Getty Images (asshats) ruined her deal she had to pull a rabbit out of the hat with Art Capital Group
libs are all about money aren't they when it's their’s
Avedon and Scavullo’s works go for as high as 100K per original but the market is down with the times no doubt
i would expect her to auction
or....leverage her assets
if she can get 50M appraisal and borrow 24M to pay off creditors (less if they agree and they will likely) then she is at 48% Loan To Value which is not too shabby in the real world and I bet she can cash flow 150,000 a month to service that through covered sales and auctions and new work and pledging her hard assets in case of her death...that is based on a 20 year am which could be called in 5 and then refinanced and in the meantime she could sell some stuff orderly
were I her counselor that would be the deal I would look for...anyhow
this is sorta what I do but not with art but with car washes and self storage and small office buildings
i pinged several folks familiar with deals
didn't David Bowie sorta do this with a bond issue?