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From rare Rolexes and Birkin bags to multimillion-dollar art collections, wealthy borrowers are unlocking quick cash from luxury assets—skipping banks and paperwork in favor of speed and discretion. Inside a climate-controlled room at lender Luxury Asset Capital’s Manhattan office, rows of Hermès handbags line the shelves: Mini Kellys in exotic skins worth roughly $75,000 each, diamond-encrusted Birkin bags and other limited-edition …
NEW YORK — The alternative finance market is a dynamic and rapidly evolving industry that is changing the way individuals and businesses access funding and invest their money. With the global alternative finance market valued at $173.9 billion in 2022, and projected to reach $920.9 billion by 2032 it is no surprise luxury asset financing has become a booming industry. As prices for luxury goods climb, Business Owners, CEO’s, and high-net-worth individuals are looking to fund new ventures without having to sell their prized possessions.
Dewey Burke is the Founder and Chief Executive Officer of Luxury Asset Capital, a leader in the alternative finance segment that provides loans using borrowers’ luxury assets as collateral. Under his leadership, the company acquired its two largest competitors, Borro (January 2019) and Beverly Hills and New York Loan Company (December 2021). Their brands have loaned over one billion dollars to tens of thousands of clients across the country, making Luxury Asset Capital the nation’s largest privately-held provider of non-bank loans that use borrowers’ luxury assets as collateral.
On this week’s Buy, Sell, Hold: Spotlight, Katelyn Conlon, Chief Revenue Officer of Luxury Asset Capital is our guest. She and Host Darin Roberge talk the company’s origin, their mission and the advantages of leveraging stored and/or unused collectibles and luxury assets.
BEVERLY HILLS, Calif.–(BUSINESS WIRE)–Luxury Asset Capital®, a leading provider of alternative financing, today announced the establishment of its Luxury and Collector Car Division.
DENVER–(BUSINESS WIRE)–Luxury Asset Capital®, a leading provider of alternative financing, today announced its acquisition of Beverly Loan Company
Dewey Burke, Luxury Asset Capital CEO, joins The Final Round highlighting the changes in the alternative lending space with high-net-worth individuals and the company’s business model.
At a time when traditional lenders have become overwhelmed and bogged down with high volume and government programs, collectors with valuable luxury assets—watches, jewelry, gems, cars, and more—have an alternative borrowing outlet with collateral lending firms, such as Luxury Asset Capital.
Never lose sight of the fact that you are in the business of helping people. As a lender, it’s easy sometimes to get hung up in the metrics of the business, whether it’s the conversion rate of our marketing programs to our average loan size or the size of our aggregate loan portfolio
The partnership provides a range of expert services for collectors and enthusiasts using their automobiles as collateral for Luxury Asset Capital loans
Luxury Asset Capital, the Denver-based lender that secures financing against goods such as Ferraris and Rolexes, has announced this month that it has acquired Borro and will be relaunching borro.com. LAC did not disclose the purchase price.
