Photographer Annie Leibovitz takes out hefty loan using her art

Famed celebrity photographer Annie Leibovitz has secured a $15 million loan from a United States firm, using the copyright, negatives and contract rights to all of her work as collateral.

The New York Times reported earlier this week that Leibovitz, whose glamorous photographs include John Lennon and Yoko Ono in the nude, Queen Elizabeth and First Lady Michelle Obama, has turned asked the Art Capital firm for a two-time art-for-money loan.

According to the report, Leibovitz has pawned off the rights to every photograph she has ever taken and plans to take in the future until her loans are paid off.