A two week exhibition at the House of Fine Art (HOFA) will have works by Banksy, George Condo, Jeff Koons, Damien Hirst and KAWS on display, and available to buy – either as a whole, or as a fraction. A concept being launched at Artcels.
Once in the gallery you will notice that the artworks selected for the exhibition are overtly targeted at the younger generation – including George Condo and Damien Hirst x Supreme skateboards. This is an intentional curatorial decision by Artcels.
Artcels was opened by Glencore commodities trader Gijs de Viet and London-based contemporary art gallerist Elio D’Anna of the HOFA in order to open the blue-chip contemporary art market to a younger and wider audience. This exhibition offers investors shares in artworks as registered assets of a London-based Limited company. These shares come in the form of a digital token using blockchain technology.
Citing the Economist, de Viet says that “Fine Art has been the single best performing asset class over the last 100 years, so it’s about time this opportunity be opened up to a much wider group of investors.”
Trying to open the blue-chip art market to a younger and wider audience is a common theme in the sector at the moment. But whether this form of fractional investment is the answer and will catch on, or whether the “wider group of investors” can expect a proportional return remains to be seen.