Rich people and art go together like wine and cheese—it just feels like a natural marriage.
Part of the reason for this is the price tag of most famous artworks. In general, the wealthy are the ones who can afford fine art.
But here’s a secret: art isn’t just a hobby for many of them, nor is it merely a piece to display at their mansions. Instead, art has transformed into a tool in wealth building. For centuries, blue-chip art has been a profitable asset class for the elite, helping them grow their fortunes outside of more traditional investments.
And now, New York-based company Masterworks is opening up the market beyond high net worth individuals. Even without a couple of millions in the bank, regular investors can get share-based ownership of paintings from some of the most famous artists in the world, like Monet, Jean-Michel Basquiat, and Andy Warhol.