Investment in YieldStreet’s art fund for smaller investors starts at $10,000 with returns aimed at 15% to 17%.
Asset-investment firm Yieldstreet on Friday launched the Art Equity Platform, which is a series of funds that enable retail investors to buy into a portfolio of artworks.
Investors will be able to buy small ownership stakes in portfolios of fine art. The move comes at a time when prices in the art world are soaring.
“Investing in valuable artwork has been a mere dream for most retail investors, who love and recognize both its intrinsic and extrinsic value,” said Yieldstreet Co-Founder and President Michael Weisz.
Yieldstreet’s series of funds will each hold a portfolio of works by major postwar and contemporary artists.
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The first fund, which will likely be under $10 million, will include works from artists George Condo, Keith Haring and Kenny Scharf.
Minimum investment in the fund will be $10,000 and the Art Equity Platform will aim for returns between 15% and 17%, net of fees, Rebecca Fine, managing director and head of art finance at Yieldstreet and Athena Art Finance, told CNBC.
The firm notes that while nonphysical art and nonfungible tokens have seen a dramatic rise in popularity over the past year, no similar uptick in popularity has been seen in investing in high-end physical art.
“This platform throws the doors wide open to the world of high-end art ownership while also marking Yieldstreet’s foray into art equity investments,” Scharf said.
Yieldstreet is a New York multiasset alternative-investment platform that says it focuses on providing wide access for investments “previously reserved only for institutions and the ultra-wealthy.”
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