Art funds have had a hard time establishing themselves–though not for lack of trying–so a new bite at the apple is coming in the next few days from a French concern that calls itself Art & Finance Services. They will be operating an exchange that sells shares in works of art, according to WiredVC.com:
A&F Markets have planned a new, centralized and liquid marketplace for art. Through its unique structure, Art Exchange will allow investors to buy and sell ʻsharesʼ in major artworks. […]
Over the past ten years, various banks and institutions have attempted to make their mark in this area by setting up funds, often having disappointing results. The main obstacles are: exceedingly high prices for major works of art, limited pieces available, high handling fees – as well as a generally poor distribution of artworks.
Nonetheless – and interestingly for investors, art is an investment with a secure value in the long-term, whilst being the subject of much speculation and volatility in the short-term. There is thus an interesting security/profit ratio involved in this form of investment.
Art & Finance Services are therefore to offer a simple, clear and familiar model (an online exchange) through which other economic players can invest in art. Through the ‘joint ownership’ of the works, art becomes a liquid and accessible asset for everyone.
Art “Stock Exchange” set to open in Paris (WiredVC.com)