The partially fictionalized, field-based case focuses on the emergence of art finance, which provides liquidity to art collectors by structuring loans using pieces of art as collateral. Sayuri Ganepola, global managing director of art finance at Christie’s, has to decide whether to lend against a portfolio of art, and if so, what risks such a loan might entail, given her overall portfolio of art loans. Ganepola provides a view of art lending from Christie’s perspective and describes Christie’s competitive advantages in this new line of business. The case also provides background on the history of Christie’s, its businesses, and its art finance operations, as well as the art market and its historical returns on investment. Students receive information on the loan collateral and are asked to provide recommendations; thus, they have the opportunity to consider art as collateral and assess the challenges of risk management in art lending. The case is ideally suited for a course on financial institutions, money and banking, and risk management.