Testament to fine wine being recognised as an asset class, Octavian has recently brokered its first bespoke loan agreement with a US private bank enabling a customer to raise borrowing facilities secured by a portfolio of fine wine held at Octavian’s facilities in Wiltshire
In this case, the loan was secured against the value of the customer's existing collection - a substantial cellar of incomparable vintages, serviced by Octavian within its peerless storage environment. As a result of the world-class facilities offered at Octavian, the customer was able to secure a bespoke loan facility with Emigrant Bank Fine Art Finance in New York.
· Raising the bar ·
Octavian was delighted to work with Emigrant Bank Fine Art Finance to provide Certificates of Pristine Storage plus the necessary undertakings assuring both bank and customer that the prestigious collection will continue to be laid down to the highest storage standard. The quality and value of the wines will be maintained as will the physical security of this collection.
As a result, the collector was granted access to a substantial loan facility to further augment his existing collection, worth some £20 million, with new vintages secured against the value of the existing cellar.
Commenting on this unprecedented agreement, Vincent O'Brien, Octavian Managing Director said: "This was the first time that a cellar of fine wine at Octavian had been used as specific security for a loan facility. Not only were we able to provide the necessary security for the collateral, but we also could provide the highest global standard of storage to ensure that the quality, and the price of the wine were maximised.
"The Octavian Certificate of Pristine Storage uniquely authenticates our perfect storage environment, providing tangible proof of the due attention and care that has been bestowed to every bottle or case in our cellarage.
"While each application will be considered on its own merits, we welcome enquiries from both existing and new customers for whom we can assist in securing fine wine loans against their collections."
Emigrant Bank Fine Art Finance President, Andrew Augenblick noted that he looked forward to providing financial support to other select collectors who store their wine with Octavian.
· Pristine storage commands a premium ·
If you have a valuable wine collection and would like to find out more about raising a loan against it, please call +44 (0)1225 818714 for more information.