Annie Leibovitz, the well known celebrity photographer for Rolling Stone and Vanity Fair, has recently pawned her life’s work of copyrights to all of her photographs in order to receive a loan from Art Capital Group, a NY-based lender, to pay off over $16M in debts. The loan was first reported by The New York Times, which went on to describe the work of the Art Capital Group and other lenders that do so on the collateralization of artwork and photography. According to the article, Leibovitz “essentially pawned every snap of the shutter she had made or will make until the loans are paid off.”
And there you have it. Intellectual property financing at its most fundamental level.