Turns out I have a crush on disruptive #fintech. So I purchased my first art investment through #Masterworks.
My first investment is in Pumpkin, 1990 by Yayoi Kusama. It was very exciting to be able to play a part in uplifting a female artist, and an asian artist. White men have dominated art history and women often had to hide under a male sounding name in the creative arts or be written out entirely. As the Guardian puts it:
“One of the startling things … is the way that Kusama seemed to be written out of pop art history. There was a point in the 60s when she shared almost equal billing – and notoriety – with the likes of Andy Warhol and Claes Oldenburg. Part of this eclipse seems to have been by design – Kusama has long claimed that her original ideas were appropriated by the Wasp-ish men around her and passed off as their own.1
Yayoi’s personal history is fascinating and her renaissance coming full circle in her 80s is exciting to watch.
Also, Masterworks is disrupting the concept that Blue Chip Art is for the ultra wealthy alone, to be hidden in private auctions in some kind of circle jerk. Look, I’m not going to say I understand why one piece sells for $7 million and another is $25 at a coffee shop, but I do like the idea of expanded accessibility. This is essentially a crowdfunding platform that facilitates investments with fractional shares via a blockchain solution.
According to The Wall Street Journal, in 2018, artwork returned an average of 10.6% return versus a 4.38% loss in the S&P 500.2 So that’s not nothing. Now I am a FIRE gal and I love the security of #indexfunds so don’t worry I haven’t fully strayed, but putting a chunk into @masterworks.io is just another way to diversify as far as I’m concerned. Frankly I threw money away on much greater risks with no potential returns when I was young and hungry, so don’t @ me. This is interesting and I want to see where it goes.
How about you? Have you tried something new and edgy lately?