New startup lets you take out interest-free loans to buy art on the spot

Ever been to an art exhibition, spied something you like, wanted to snap it up immediately, but didn't have the coin? Don't ask your bank, ask Art Money.

Launched in 2015, Australian startup Art Money is designed to help regular folks buy art on the spot in local galleries — and now it's going worldwide. Started with a handful of Sydney galleries by 10 Group, Art Money is now available in 350 galleries worldwide, from Auckland to Singapore to New York. 

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Art Money has sold more than 1,000 artworks through its interest-free loan program — and one quarter of customers were first-time art buyers. The team says they've seen more than $2 million spent in Sydney galleries with their program — and now, 90 percent of galleries in inner city Sydney offer Art Money. Read more...

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