Adam Chinn, former chief operating officer at Sotheby's, has been quietly building International Art Finance (IAF), a boutique art lending firm backed by the billionaire Nahmad family. In a recent interview with ARTnews, Chinn revealed that IAF has disbursed nearly $400 million in loans and is on track to reach $500 million by the end of 2025. The firm offers short-term, non-recourse loans with an average size of $8 million, claiming an edge in speed and scale, with loans disbursed in as little as 10 days. The Nahmad family, prolific collectors and dealers, provides funding and conducts internal artwork valuations, a practice that has drawn scrutiny over potential conflicts of interest.
This development matters because it highlights the booming art lending market, even amid high interest rates, and the growing role of wealthy families in providing liquidity to the art world. IAF's rapid growth—reaching $400 million in loans in just two years, compared to nine years for competitor The Fine Art Group—underscores the competitive pressure on established players like Sotheby's Financial Services. However, concerns about conflicts of interest, given the Nahmads' dual role as funders and valuers, raise questions about transparency and neutrality in art finance, especially as the sector expands.