Art fans are often frustrated beings, often with their desired doodles, just a little bit beyond their monetary grasp. There’s only so much of watching art that can be fun. However, the latest initiative from London’s HOFA Gallery, is a digital platform for blue-chip art-lovers to invest in part of an artwork.
The real price of a Banksy is beyond the realms of many, but by investing in shares, the investors at HOFA have opened up their vaults to launch “XXI” to allow backers to buy into shares of the artwork.
Elio D’Anna, gallery owner and art collector, has joined forces along with commodities trader, Gijs de Viet to expose the lucrative world of blue-chip art investments to a younger and more savvy international market. In opening up the vaults of his gallery and assigning some of his most treasured artworks to a wider ownership, it will in theory push the price up, and everyone will benefit.
Perhaps you’re not ready to take the plunge of backing one of your favourite artists, as the asking price is big bucks. This pioneering scheme enables members to part- or solely own modern classics from Banksy, KAWS, Damien Hirst, George Condo and Jeff Koons, and prospective investors will have the opportunity to diversify their art portfolios at a fraction of cost price, therefore assuming a reduced risk.
With a minimum deposit of $500 (£390), collectors can be assured they are fractional ownership of carefully sourced art- which has been selected after expert analysis of market trends, to increase in value- therefore reducing financial risks to interested parties.
The artworks available will be on show at HOFA’s new state-of-the-art Mayfair gallery until 5th March, and then they will be returned to the vault, where they will be treated with the utmost care.
Savvy investors will receive digital tokens in terms of equity, backed by shares in the artworks, which are available to cash in at any time. To minimise risks of fraudulence, the proof of ownership, authenticity, and asset inventory information will be embedded into a single digital token is set to introduce a «Gold Standard» of transparency and trust.
A R T C E L S will also afford subscribers the opportunity to enjoy their investments at exclusive art events held multiple times each year, with London, Los Angeles and Shanghai already planned for 2020 and up to 10 exhibitions by 2022. As co-founder Elio D’ Anna explains, “…as a diverse investment, investing in art through A R T C E L S is both secure and engaging because there’s also the aspect of enjoying your investment at public exhibitions, as well as private viewings with other shareholders. It’s a pleasure that’s only comparable to collecting classic cars, watches and fine wines.»