You Can Now Own a Stake in a Warhol or Monet for $20
Art Law

You Can Now Own a Stake in a Warhol or Monet for $20

This could be your chance to own (a share of) a Warhol. Getty Images/Kaitlyn Flannagan for Observer This could be your chance to own (a share of) a Warhol. Getty Images/Kaitlyn Flannagan for Observer Don’t we all deserve to own a Warhol? Some might argue that in way, by paying taxes into public museums, we do. But a new venture is trying to give aspiring art collectors a bigger bite of the cookie. “We are looking to democratize the art market,” said Steve Lynn, founder of the newly created online platform Masterworks , an art fund that will allow people—you, me, most everyone we know—to invest as little as $20 to purchase a share of an artwork. Masterworks acquires artworks that its leadership team believes to be undervalued—its first two offerings are an oil and silkscreen Colored Marilyn by Andy Warhol (bought for $1.8 million) and an oil Coup de Vent by Claude Monet (bought for $6.3 million)—for which investors may purchase a fraction. The plan, Lynn stated, is to resell the artworks within 120 days, returning the investors’ money plus any profits, less a two percent administrative fee and 20 percent of the sale gain, which Masterworks retains. […]

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