No.105 masterworks says it's the
first company to allow investors to buy
shares of masterpieces
it's like a co-op but for something
you'd get yelled at for touching
for an initial investment of a thousand
dollars you can brag to your friends
that you own a teeny tiny part of a
piece of work
by artists like banksy or warhol
so-called blue chip artists whose work
has generally gone up in value
but waiting for your art to appreciate
in value could take time
for a quicker return on investment there
are ways of buying art to evade taxes or
government authorities
perhaps most notably the use of free
ports in places like geneva and
singapore where assets can remain
officially in transit between countries
indefinitely there is a lot of behavior
that is a shady at best
some people use art especially expensive
art as a form of 'A'
in 2007 a brazilian banker smuggled
basquiat's hannibal
then worth about eight million dollars
into new york's jfk international
airport
in a crate whose contents were declared
to be worth only a hundred dollars
even museums and prestigious art
institutions have been known to purchase
art and artifacts of questionable
provenance
christie's recently auctioned off two
statues made by the igbo people of
nigeria
in a sale the auction house said was
perfectly lawful but art historians
insist that the figures were 'B'
during the country's civil war
then there's a wider debate about
cultural artifacts that ended up in the
world's major museums by virtue of being
stolen
during war or just as a bonus of
imperialism
and whether they should be returned to
their countries of origin one of the
arguments museums use to resist
returning these pieces
is that more people will see them if
they're the ones displaying it
a line of reasoning that sounds a whole
lot like saying that museums are
providing countries artists with
exposure
first company to allow investors to buy
shares of masterpieces
it's like a co-op but for something
you'd get yelled at for touching
for an initial investment of a thousand
dollars you can brag to your friends
that you own a teeny tiny part of a
piece of work
by artists like banksy or warhol
so-called blue chip artists whose work
has generally gone up in value
but waiting for your art to appreciate
in value could take time
for a quicker return on investment there
are ways of buying art to evade taxes or
government authorities
perhaps most notably the use of free
ports in places like geneva and
singapore where assets can remain
officially in transit between countries
indefinitely there is a lot of behavior
that is a shady at best
some people use art especially expensive
art as a form of 'A'
in 2007 a brazilian banker smuggled
basquiat's hannibal
then worth about eight million dollars
into new york's jfk international
airport
in a crate whose contents were declared
to be worth only a hundred dollars
even museums and prestigious art
institutions have been known to purchase
art and artifacts of questionable
provenance
christie's recently auctioned off two
statues made by the igbo people of
nigeria
in a sale the auction house said was
perfectly lawful but art historians
insist that the figures were 'B'
during the country's civil war
then there's a wider debate about
cultural artifacts that ended up in the
world's major museums by virtue of being
stolen
during war or just as a bonus of
imperialism
and whether they should be returned to
their countries of origin one of the
arguments museums use to resist
returning these pieces
is that more people will see them if
they're the ones displaying it
a line of reasoning that sounds a whole
lot like saying that museums are
providing countries artists with
exposure
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