Masterworks.io is the first art investment platform that lets you to invest in iconic, multi-million dollar artwork. Adding art to your portfolio isn’t just for billionaires anymore. With Masterworks, you can now invest in this ultra-exclusive asset class.
Product HuntHey @rmcbeath
Can you tell us more about the app you've built and how it works? What was your inspiration for building it?
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@rmcbeath @jacqvon I had the same question :)
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Hunter
@jacqvon @ani_hakobyan Hey Annie, check out the below and let me know if you have any questions 😃
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I like your website, but there is some jargon that i did not understand. What is Special Purpose Vehicle?
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Hunter
@romanarellano A Special Purpose Vehicle (SPV) is a legal entity created for a specific purpose. In the context of raising capital, an SPV (usually structured as a LLC) can be used as a funding structure, by which all investors are pooled together into a single entity.
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hey @rmcbeath, great product! Do you mind telling us about how many artists/artwork your company started off with when you launched compared to where the platform has come to today? Seems like a very interesting growth story :)
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ogsupaLove the idea! 💡
One questions:
- Can I "cash out" any time that I want? Or just when the artwork is being sold again
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Hunter
Hi everyone, great to be here and to bring you Masterworks.io! We launched Masterworks in September 2017 to democratize ownership of high-end artwork, an asset class that has consistently outperformed the S&P 500 (gross returns of around 12%) with very low volatility. However, investment-grade art typically costs more than $2 million per painting, which almost everyone cannot afford. For the first time ever, we're filing paintings with the SEC so we can sell shares in them, and then building-out a trading platform for investors to trade shares in these great works of art. Our first two offerings are an Andy Warhol "Marilyn" painting (we paid $1.815mm) and a Claude Monet paining (we paid $6.3mm).
Would love to hear your thoughts and feedback!
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@rmcbeath Have you found that art dealing world is receptive to this sort of thing? Or are they against it?
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Wow! Sounds like an amazing platform!!
So I guess that the shares can only be traded within users of the plaform and it's kind of a leap of faith towards art ownership.
But where are the physical painting stored? Are they tradable to 100% holders? I mean, is this the exit stategy for the end user?
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Hunter
@danielrziv Hey Daniel! Thanks for the message. In terms of trading, we're working on a number of solutions that will allow you to trade and liquidate your shares just like you would on the stock market. Remember, when comparing the ArtPrice 100 index to the S&P 500 since 2000, Art has outperformed the stock index by 250%! So, not so much a leap of faith ;) The paintings are currently stored in a secure, air-conditioned storage facility in Delaware, US - however we are looking to open a gallery in New York City in 2019 to display all the works. The way an investor can realize returns is either through the re-sale of the painting (for example, a private buyer may make an offer) or when trading launches, you can buy, sell and trade shares. I hope this helps!
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what I really <3 about the app is that you can do your own due diligence as they provide historical data that, if you used other sources, you have to pay for Masterworks
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