NEW YORK, May 15 ― Anyone can easily own a Basquiat painting, a pair of Yeezy sneakers or even a Ferrari ― at least, that’s the promise of a growing number of fractional ownership platforms that sell shares of these rare items, starting at just a few dollars. One platform, Masterworks, in.
Ferraris for the people: Luxury goods sold in fractions
Fractional ownership platforms offer a way for people to invest their savings by purchasing part of an expensive item for just a few dollars
By Thomas Urbain / AFP, NEW YORK
Anyone can easily own a Basquiat painting, a pair of Yeezy sneakers or even a Ferrari at least, that is the promise of a growing number of fractional ownership platforms that sell shares of these rare items, starting at just a few US dollars.
One platform, Masterworks, in spring last year turned the US$6 million painting
The Mosque by Jean-Michel Basquiat into 284,420 shares at US$20 each.
Anyone can easily own a Basquiat painting, a pair of Yeezy sneakers or even a Ferrari – at least, that s the promise of a growing number of fractional ownership platforms that sell shares of these rare items, starting at just a few dollars.
One platform, Masterworks, in spring 2020 turned the $6 million painting
The Mosque by Jean-Michel Basquiat into 284,420 shares at $20 each.
With fractional ownership, there s no chance of hanging the painting in a buyer s home, parking a Lamborghini in their garage or storing six bottles of Romanee-Conti wine in their cellar.
But by owning at least a piece of the property – at least on paper, like the shares of a publicly listed company – anyone can now directly benefit from an increase in the item s value, just like a wealthy collector.
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