Finarte is an Italian

auction house An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...

based in

Milan Milan ( , , Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 million, while its metropolitan city h ...

. It is one of the most renowned auction houses in Italy with great importance on the international market. It went bankrupt in fall 2011, though it has been relaunched in 2014, with the backing of Italian investors. Besides offering financial services in every art field, it provides consultancies in sales, private

funding Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses ...

, pre-fundings, extensions on acquisitions, sales on commercial portfolios and heritage administration. Finarte has been listed on the

Milan Stock Exchange Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.ils ...

from 1970. It has operational bases in Milan,

Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus (legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption ...

and

Venice Venice ( ; it, Venezia ; vec, Venesia or ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 small islands that are separated by canals and linked by over 400 ...

History

Finarte was founded by an Italian banker, Gian Marco Manusardi, in Milan in 1959. The aim was to assist collectioners and operators in the purchase and sales of art works. Finarte became a pioneer in the provision of financial services and products including sales advances, loans using art as collateral, and hire-purchase financing. Finarte was the first firm in the world to operate financings in a field that did not have credit near the banking institutions. The company also has joint-venture auction operations in Spain and Switzerland, and is part of the Italian National Association of Auction House

Strategy

Finarte auction house has chosen a precise strategy: to organize specific auctions for specific kind of objects. There are a lot of sections which include silverware, jewels and watches, books and printings, old furniture, majolica and porcelain objects, carpets and textiles. Finarte also deals with modern and contemporary art without neglecting paintings of the 19th century.

References

External links

Official site of Finarte

An article on www.theluxury.org entitled "Auction of luxury jewelry and vintage watches for sale from Finarte", 2010/09/13

Article entitled "Finarte announce black-out over auction results", Antiques Gazette, 2009/11/09

An article on Gian Marco Manusardi
{{Authority control Italian auction houses Retail companies established in 1959 Companies based in Milan 1959 establishments in Italy