PARIS. As the notion of art as an asset gains momentum again, the first stock exchange for art—on which clients can buy shares in works from galleries—is due to launch in Paris “in the next few days” according to its website
PARIS. As the notion of art as an asset gains momentum again, the first stock exchange for art—on which clients can buy shares in works from galleries—is due to launch in Paris “in the next few days” according to its website. Based on a stock market model, Art Exchange will offer collectors the chance jointly to own works of art with shares available from between €10 and €100. Participating galleries are currently selling works valued at €100,000 or more, although the exchange intends to lower this figure once the company is established.
“Given that we are doing something new, we had to create confidence and credibility in the investor and this is done through having high-class art works,” said Caroline Matthews, the director of operations at Art Exchange. Matthews also hopes the calibre of works available will encourage naysayers to invest through the exchange. “For some people, mixing fine art and finance goes against their principles, but perhaps they will see things differently in the future,” she said.
To read the full story, visit theartnewspaper.com
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