10/31/2023 0 Comments Masterworks software guerillas“Firstly, an investor can sell their shares to another investor on an approved trading platform. “There are two ways an investor can get a return,” Lynn said. Masterworks’ plan is to continue purchasing investment-grade artwork and giving individuals a chance to see a return on their investments. That painting is currently valued at closer to $8.5 million. For example, Masterworks already includes Andy Warhol’s “1 Colored Marilyn (Reversal Series),” which was purchased in November 2017 for $1,815,000 and Monet’s “Coup de Vent” (1881) purchased in June 2018 for approximately $6.3 million. The platform lets anyone invest in major works of art for as little as $20 per share. The first important painting I acquired was a Marc Chagall, ‘Le Pont Neuf’, which was offered for sale at Sotheby’s last season.” At one point, I had one of the largest collections of Picasso ceramics (something I wouldn’t admit to today!). “After my first company was successful, I started acquiring paintings by artists like Picasso. “I started my first internet company when I was in high school and have always been interested in fine art,” Lynn, who also serves as CEO, told me. The pieces he owns have been exhibited at MoMA, the National Gallery, and the Royal Academy of Arts and were created by the likes of Monet, Picasso, and Warhol. So what kind of art are we talking about? His collection is currently valued at over $100 million, and he sees this venture as a way to democratize access to iconic pieces of art. Now 38 years old, Lynn started collecting modern art when he was only 19. Cofounded by serial entrepreneur Scott Lynn, Masterworks is building a blockchain-based stock trading platform for significant works of art.
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