The other day the launch of the world’s first art stock exchange was announced. Artex was initiated by the Prince of Liechtenstein and a group of investment bankers. According to Artex CEO Yassir Benjelloun-Touimi, the first painting will be offered for sale in the first half of 2023. Details are still being kept secret, but the organizers promise that it will be the work of one of the most famous artists in the history of art.
Speaking about the differences between Artex and similar projects, Benjelloun-Touimi, who previously worked with UBS Group AG and BNP Paribas SA, insists that the new platform will be structured according to the principles of a traditional stock market, which allows buying and selling stocks, receiving data on liquidity.
As examples, the Artex site cites the paintings “Stacks” by Claude Monet, the yield of which the project experts estimate at 12% per annum, and “View of the Asylum and Chapel in Saint-Remy” by Vincent van Gogh, for which this figure is 16%. It is expected that the exchange will sell works of art from the Renaissance to the twentieth century, and their total value will be about € 1 billion. It is promised to put on sale at least one painting a month.