#Art #IPO A company named #Artex is launching a roughly $55 million initial public offering of #Bacon ’s “Three Studies for a Portrait of George Dyer.” @WSJecon https://shorturl.at/cepW5

Everyone can draw their own conclusions: "Time to invest in the art market? New 'stock exchange for art' to launch at the Victoria & Albert Museum this month" by Anny Shaw.

"Artex, a new "online stock exchange for art", offered its first initial public offering (IPO) in an event at the Victoria & Albert Museum in London last night—Francis Bacon's Three Studies for a Portrait of George Dyer. The painting last sold at auction in May 2017 for nearly $52m and will be offered to investors starting at around $55m. Dealings will begin on 21 July."
"All works of art—or art IPOs—are owned by Artex, which will issue the shares, worth €100 each. These shares can then be bought, sold or traded on a secondary market on the Artex exchange. Shareholders are limited to a 10% stake in each work; anything above that threshold triggers a takeover bid, which could be outbid."

#ArtMarket #TheArtNewspaper #FrancisBacon #Artex

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https://www.theartnewspaper.com/2023/05/04/time-to-invest-in-the-art-market-new-stock-exchange-for-art-to-launch-at-the-victoria-albert-museum-this-month