Business Standard

Wednesday, December 25, 2024 | 01:42 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

This art investment startup is luring scores of investors in the pandemic

Think of it as the art market's version of the popular trading platform Robinhood Markets, which lets users buy a fraction of a company's share for a few dollars

Photo: iStock
Premium

The concept of fractional ownership isn’t new in the art market | Photo: iStock

Katya Kazakina | Bloomberg
New offerings kept coming over the summer: Banksy, George Condo, Zao Wou-Ki.

A New York startup that allows investors to buy a tiny stake in paintings by world-class artists for just $20 has seen a surge in demand during the pandemic, according to its founder, and has bought 15 artworks since the onset of Covid-19 to feed their appetite. A recent $1.52 million initial public offering of a piece by the American graffiti artist KAWS sold out in a few hours.

“People feel that equity markets are overvalued and they are looking for other places to put money,” said Scott

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in