Annie Leibovitz Pawns Rights To All Her Photographs

New York Times:

Last fall, Annie Leibovitz, the photographer, borrowed $5 million from a company called Art Capital Group. In December, she borrowed $10.5 million more from the same firm. As collateral, among other items, she used town houses she owns in Greenwich Village, a country house, and something else: the rights to all of her photographs.

In other words, according to loan documents filed with the city, one of the world's most successful photographers essentially pawned every snap of the shutter she had made or will make until the loans are paid off.

Read the whole story: New York Times

Comments

[Uosdwis]

I like Annie's work, of course, but maybe she should think about living in just ONE house. Most of us do.

[Bulbul]

What`s with Annie, she looks so washed out, I hope she is okay !
Perhaps it is the look of the Have`s, they do not need to look clean up, their bank balance speaks for them.

[Mannock]

Check out the latest issue of French Photo magazine. There is a pictorial by Leibovitz with various models photoshopped onto dishes and exotic backgrounds. And they are TERRIBLE! These badly marquee'd and layered works would rank an easy F in any community college photography course. Her works have a pictorial lifelessness about them that shows little except that the subjects are celebrities. Big deal. She is easily the most overrated photographer of the present, possibly ever.

[DCCommuter]

I don't get it--why would she pawn the most valuable thing she owns--her rights to her work. It seems like all the other property should be put up as collateral first.

[Topper24]

You just wonder what the rich do with their cash.

[zukervati]

I wish I could afford an original work of hers. She's truly a genius and a living legend - our next Ansel Adams. Annie, I implore you to keep on working, your work isn't done and there's not enough of it so far.

[missviv]

While I do agree with you that Liebowitz is a living legend, she is no Ansel Adams. Ansel worked almost strictly in 4x5 large format photographing mostly landscapes. That's like comparing Miles Davis and Elvis Presley - both giant music icons bust just because they work with the same medium doesn't make them interchangeable.

[mick7191]

Ouch. Couldn't trade a portrait for an accountant?

[theborg]

Another Madoff victim, perhaps?

[fcsakes]

Great photographer. Needs lesson in how to handle money - just like all the "how to..." crap they've got spread all over the media for the 'little people,' otherwise known as the middle class.

[pkel]

Different information is here - http://gawker.com/5159358/poor-annie-leibovitz-has-pawned-all-her-photos?skyline=true&s=x

[MikeCanada]

what on earth does one person need to borrow $15 million for???

[ishok]

Bernie Madoff.

[andyg]

Taxes.

[Interested Party]

This is very sad. All the best Annie, we need artists they are our soul.

[zoozey]

Is it possible that she was one of Madoff's victims. Maybe she lost a lot of money from something like that?

[Oonagh]

Sounds like she got wiped out as who would want to give up their right to their art.

[MajorBarbara]

Why does she need $15M?

[truthyguy]

Exactly.

[bikerdude]

keeping that glamorous is expensive!

[jillian222]

I have spent my entire adult life in photographic circles. I can say with conviction that no artist, especially one of Leibovitz's fame and scope of vision, would easily part with her copyrights, negatives and contracts unless she was in dire need. They are the breathe and soul of any visual artist's achievements.
We strive to protect them as if they were our children.

We can project that she was foolishly overextended, that instead of being a humble working photographer Leibovitz chose to maintain a life of luxury (surprise!) instead of an austere one.

Agreed.

I would also suggest that Annie is probably in deep angst, something which millions of dollars in assets cannot cure. In this age of Ponzi schemes, criminal bankers and the like, let's give this gifted woman a bit of a break and wish her peace.

[bikerdude]

I hope she works this out in her favor. She is such a huge talent.

[noamjunior]

i heard from someone that interned for her that she was kind of a jerk

[katielady]

HOLD ON THERE TONTO! Annie Liebowitz had to borrow how much????? to pay off what???? she is paid a fortune to take photos.. and she isn't a banker but she sure seems to live l like one.. This is a lesson for what happens when people live beyond their means.. she ought to take a page from Suzy Ormond or whomever...

[bikerdude]

Lotta supposition there katie....

[Clare53]

She lost her money to Madoff.