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But quick disclosure: I learned this over a casual lunch and am writing this from memory. So, take it with a grain of salt until I properly write this out in The Hustle. Scott: 40 years old. Look just like Bear Grylls. From Missouri. Started an ad tech company. Sold it for tonspic.twitter.com/jRbAFZDg8c
He then starts investing in art. He's a badass guy. Love him. Now has a top 100 art collection. But he's a businessman. And he noticed that the ROI of fine art, it's crazy good compared to other assets. Example: the top 100 most sold artists, only 2 went down in value.pic.twitter.com/9gyjTFfXka
So, Scott did something cool. He started Masterworks, which lets the average joe buy into art as an asset class. So, like buying into public companies stock, Masterworks is like that for art. U can buy a piece and make money when it sells, and the bet is that the returns r big.pic.twitter.com/fDzY8AyGWy
Here are some interesting stats. - On average, Basquiat is one of the best artists to own. - Their blue-chip investments make an 18% annual yield 95% of the time. - They've built this crazy system that factors in risk, future sale price...it's great.pic.twitter.com/p00qN0XuPU
- People spend $64 billion a year on fine art. The VAST majority of these sales are done for investments. - Banksy is not the best investment. maybe yields 8-9% a year. He's popular...but he's unpredictable. Maybe he'll shred your art!!pic.twitter.com/o9KUZkzySL
- George Condo and Kaws are the best living artists that you can buy on Masterworks when factoring in returns and risk. They out perform the stock market. When they die, it could increase big time. - Jonas Wood is the darling artist of the art investment worldpic.twitter.com/4H2zqvqL6k
To make all this happen @MasterworksIO built this amazing technology.
Paintings as an asset is huge, multi billion dollar asset class. But unlike stocks, which have dozens of way to buy and sell, art pretty much only has Masterworks.
So...SUPER cool company.pic.twitter.com/phuUeIDeYp
What do you guys think? You dig this business? Like Masterworks? I'm thinking about writing an ad for them for The Hustle. What should I say?
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