{"id":9001,"date":"2020-09-06T14:11:09","date_gmt":"2020-09-06T12:11:09","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=9001"},"modified":"2020-10-12T11:34:23","modified_gmt":"2020-10-12T09:34:23","slug":"this-startup-is-luring-scores-in-the-pandemic","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/this-startup-is-luring-scores-in-the-pandemic\/","title":{"rendered":"This startup is luring scores in the pandemic"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"225\" src=\"https:\/\/bsmedia.business-standard.com\/_media\/bs\/img\/article\/2019-01\/11\/full\/1547229984-9867.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"This startup is luring scores in the pandemic\" title=\"This startup is luring scores in the pandemic\" \/><\/div>\n<h3 class=\"wp-block-heading\">This art investment startup is luring scores of investors in the pandemic<\/h3>\n\n\n\n<p>Think of it as the art market&#8217;s version of the popular trading platform Robinhood Markets, which lets users buy a fraction of a company&#8217;s share for a few dollars<\/p>\n\n\n\n<p>The concept of fractional ownership isn\u2019t new in the art market | Photo: iStock<\/p>\n\n\n\n<p>New offerings kept coming over the summer: Banksy, George Condo, Zao Wou-Ki.<\/p>\n\n\n\n<p>A New York&nbsp;<a href=\"https:\/\/www.business-standard.com\/topic\/startup\" target=\"_blank\" rel=\"noreferrer noopener\">startup&nbsp;<\/a>that allows&nbsp;<a href=\"https:\/\/www.business-standard.com\/topic\/investors\" target=\"_blank\" rel=\"noreferrer noopener\">investors&nbsp;<\/a>to buy a tiny stake in&nbsp;<a href=\"https:\/\/www.business-standard.com\/topic\/paintings\" target=\"_blank\" rel=\"noreferrer noopener\">paintings&nbsp;<\/a>by world-class artists for just $20 has seen a surge in demand during the pandemic, according to its founder, and has bought 15 artworks since the onset of <a href=\"https:\/\/www.dazzlepop.net\/site\/category\/startup\/\">Covid-19<\/a> to feed their appetite. A recent $1.52 million initial public offering of a piece by the American graffiti artist KAWS sold out in a few hours.<\/p>\n\n\n\n<p>\u201cPeople feel that equity markets are overvalued and they are looking for other places to put money,\u201d said Scott Lynn, a collector who started the company, Masterworks, in 2017.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><\/figure>\n\n\n\n<p>Masterworks is at the forefront of a burgeoning niche in fractional ownership in luxury assets such as fine art, collectibles, vintage cars and even race horses such as Authentic, the winner of the Kentucky Derby Saturday. The startups offer the shares as an affordable way to invest in expensive, rarefied fields that are typically available only to the mega-rich.<\/p>\n\n\n\n<p>Think of it as the art market\u2019s version of the popular trading platform Robinhood Markets, which lets users buy a fraction of a company\u2019s share for a few dollars. It mirrors the democratization movement unfolding in the stock market \u2014 except that the assets are inherently more risky and lacking of a track record. Auctions are filled with casualties, and even works by star artists can implode once prices get overheated.<\/p>\n\n\n\n<p>The concept of fractional ownership isn\u2019t new in the art market \u2014 or for thoroughbreds. It\u2019s a buyer-beware investment: Robinhood itself is under pressure after complaints from novice&nbsp;<a href=\"https:\/\/www.business-standard.com\/topic\/investors\" target=\"_blank\" rel=\"noreferrer noopener\">investors&nbsp;<\/a>and is facing a U.S. regulatory probe. <\/p>\n\n\n\n<p><\/p>\n\n\n<p>Read more: <a href=\"https:\/\/www.business-standard.com\/article\/international\/this-art-investment-startup-is-luring-scores-of-investors-in-the-pandemic-120090600162_1.html\">business-standard<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>This art investment startup is luring scores of investors in the pandemic Think of it as the art market&#8217;s version of the popular trading platform Robinhood Markets, which lets users buy a fraction of a company&#8217;s share for a few dollars The concept of fractional ownership isn\u2019t new in the art market | Photo: iStock [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":9003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[29],"tags":[31,887,561,238,608],"class_list":["post-9001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup","tag-business","tag-businessstandard","tag-covid-19","tag-entrepreneur","tag-pandemic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dazzlepop | This startup is luring scores in the pandemic<\/title>\n<meta name=\"description\" content=\"This startup is luring scores in the pandemic Think of it as the art market&#039;s version of the popular trading platform Robinhood Markets, which lets\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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