Amanda Coulson & Uli Voges – Foundation

Date4th April 2013
GuestAmanda Coulson & Uli Voges
MarketArt_finance
Topic
CompanyFoundation

In this week’s episode of the ArtTactic Podcast, we have a 3-way pod as we’re here with Amanda Coulson and Uli Voges, co-founders of Foundation, a new company offering financial products to its art gallery members including a first in the art market, the offering of factoring. First, Amanda and Uli explain how via factoring, for a small fee, Foundation provides cash advances to galleries shortly after a work has been sold and invoiced. Then, they put in perspective how prolific of an issue is liquidity struggles for galleries in the art world. Amanda and Uli also speculate why factoring hasn’t been previously offered in the art world, why factoring makes more sense for most galleries versus lending against their inventory and how galleries have responded thus far to the idea of utilizing factoring.