Mintus, the new online, art investment platform offers a new way to buy shares and invest in exceptional contemporary art opening up the annual $65bn art market
The first artworks available are iconic paintings by Andy Warhol and George Condo, with more pieces by established and emerging artists to follow
Discover more: www.mintus.com
LONDON, April 21, 2022 /PRNewswire/ -- Mintus, a new, art investment platform that offers investors the opportunity to invest in high-value modern and contemporary art, launches today. Investors will be able to buy shares in a UK company which directly owns and manages the artwork. Paintings by Andy Warhol and George Condo are the first two works to be presented by Mintus, which is authorised and regulated by the Financial Conduct Authority, and the first platform of its kind in the UK. Over $200 million worth of paintings will be on offer to Mintus investors over the course of 2022, both individually and through curated portfolios of art.
The first outstanding painting on the Mintus platform will be an Andy WarholSelf-Portrait from 1966, priced at USD $5 million and valued last month at $6.8 million by an independent, leading appraiser. The other painting is George Condo'sThe Outcast from 2018, priced at USD $2.775 million and valued last month at USD $3 million. Both paintings are exceptional examples of each artist's quintessential styles.
Warhol's Self-Portrait has been held in a private collection since 1991 and was last exhibited in 2003. In making the work publicly available for the first time in 31 years Mintus is enabling those looking for alternative ways to invest their money the chance to own shares and invest in an iconic artwork by the legendary pop-artist.
George Condo is one of the market's most sought after artists, deeply inspired and influenced by Pablo Picasso. He brings his figures and compositions to life through originality and wit. The visually arresting composition of The Outcast provides a unique opportunity for investors to own shares and invest in a striking work by Condo.
Brett Gorvy, Mintus' Advisory Board Member and the Chief Curator, said:
"Andy Warhol and George Condo are among the most desirable and sought-after contemporary artists to collect today. Their markets are very international and both artists are currently experiencing new popular heights as a result of major museum retrospectives and record prices achieved at auction."
Previously, accessing high-value, iconic art has predominantly been limited to selected individuals and institutions. Mintus, through its state-of-the-art, online investment platform, is now making this viable for all qualifying investors.
Contemporary art has seen an annual return of 14% over the last 25 years versus 9.5% from the S&P 500. Similarly, the 411 works by Andy Warhol that appeared at auction multiple times between 2003 and 2017 achieved an average compound annual growth rate of 14.2%.
Enabling shared ownership of art through holding shares in a company which purchases it, known as "fractionalisation," comes as people are increasingly investing in the shared economy, a trend that will shape financial growth over the next decade and beyond.
Nicky Clark, Managing Director at Mintus' Fine Art Division, said:
"Fractional ownership of art is opening up the industry by allowing investors to own a piece of the art market. Over recent years we've seen investors increasingly seek alternative investment strategies to generate risk adjusted returns. We're excited to provide them with a new way to access a passion-fuelled asset class."
Notes to Editors
Any art selected by experts and offered for shared ownership by Mintus, will be subject to independent verification and valuation. Artworks will be kept in a secure and specialist art storage facility. Qualifying investors include certified high net worth investors and self-certified sophisticated investors. Investors can certify as part of the sign-up process.
Mintus will actively manage the art investments until they are ultimately sold to enable investors to exit the investment.
Mintus has experienced individuals from investment management, technology, and the art businesses across the management team, Leadership Board and Advisory Board:
Board Members also include: Chris Kaladeen, Head of Rothschild & Co's insurance, and investment management banking business; and Daglar Cizmeci, who is an Executive Chairman of an augmented reality and metaverse company. The Advisory Board also includes Tad Smith, former President and CEO of Sotheby's, former CEO of Madison Square Garden.
Full details of the investment and risks are included in the investment documents available to all qualifying investors who successfully complete the sign-up process with Mintus. Investors' attention is drawn to the following key risks:
Mintus Trading Limited is Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 942522.
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