Shares for sale in major artworks
A French company has launched an initiative which allows investors to buy and sell and shares in major artworks.
Paris-based A&F Markets says that, in comparison to other economic markets, the art market is currently structured in a radically different manner. Its particularity makes it difficult for investors to easily understand the market and therefore, approach it with any degree of certainty. With that in mind it has launched its Art Exchange service.
Over the past ten years, various banks and institutions have attempted to make their mark in this area by setting up funds, often having disappointing results. The main obstacles are: exceedingly high prices for major works of art, limited pieces available, high handling fees – as well as a generally poor distribution of artworks.
Nonetheless, says the company, art is an investment with a secure value in the long-term, whilst being the subject of much speculation and volatility in the short-term. Art Exchange will offer “a simple, clear and familiar model (an online exchange) through which other economic players can invest in art. Through the ‘joint ownership’ of the works, art becomes a liquid and accessible asset for everyone”.
In early January, the company's website had two paintings for sales, with prices per share starting at €10.