scott lynn masterworks net worth

Each offering amount is tethered to the original cost. The platform lets anyone invest in major works of art for as little as $20 per share. Scott Lynn is the Founder and CEO of Masterworks.io. From August 2003 to January 2013, he served as the Companys Associate General Counsel. Its easy to find the information you need about the different pieces of artwork and to make investments. is a low-fee platform that lets you purchase, trade, and auction off sports cards. Updated Feb. 24, 2023. I think its just me coming at it from the perspective of knowing the art market and tech, and those two skill sets dont usually come together. For example, Masterworks already includes Andy Warhols1 Colored Marilyn (Reversal Series), which waspurchased in November 2017 for $1,815,000andMonets Coup de Vent (1881) purchased in June 2018 for approximately $6.3 million. You have management team, you have multiples, different divisions, different risks, and with paintings youre looking at how similar paintings have appreciated historically. These items are required to enable basic website functionality. Thats why this opportunity is so exciting. Masterworks uses algorithms and data analysis to determine which art pieces to invest in and manage in its portfolio. Once you have established a solid financial footing, it may then make sense to see what investing in some of the most iconic artworks can do for your long-term wealth. The business today is funded by me and one small investor. When you visit websites, they may store or retrieve data in your browser. Fine art isnt stuffy anymorebut its still lucrative. We didnt frankly know that when we started the business. It allows for interim liquidity that they otherwise wouldnt have by just waiting for the painting to sell. All rights reserved. In addition to Masterworks, Mr. Lynn serves on the board of v2 ventures (Adparlor, Giant Media, Reachmobi, Amply, and Sellozo), Payability, and the Brooklyn Rail (a non-profit publication in the art industry). One of the things weve found is that nobody really knows how to think about investing in art. WebGet Scott Lynn's email address (s*****@masterworks.io) and phone number (816-305-.) at RocketReach. VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Based in 2017 by Scott Lynn, Masterworks is a groundbreaking platform that provides people the chance to put money into shares of high-value art work. Do they have to commit to trade? How do I obtain fine art insurance to protect my collection? Join top executives in San Francisco on July 11-12, to hear how leaders are integrating and optimizing AI investments for success. Again, because art is speculative by nature, the platform is best suited for DIY alternative investorsbut if you have the risk tolerance we say dive in. Whats been your greatest success so far? The average time horizon to see any ROI is somewhere around 60 months (five years), with a minimum waiting period of three years. Read more about Select on, Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score Lower, Personal Loans for 670 Credit Score or Lower, paying off high-interest credit card debt, Heres why you shouldnt shy away from investing, even if you only have a small amount of money, Don't invest in crypto before a 401(k) or IRA, warns these financial experts, Wealth building for millennials: Its not too late to start, One of the best travel credit cards has a new 80,000-point bonus offer. Before you can join Masterworks, you need to have a phone interview with one of the companys specialists. An indispensable guide to finance, investing and entrepreneurship. Artwork can offer extra diversification for your portfolio. And for investors who want to buy their first share without the minimum $1,000 investment, they may be able to find a lower share price using the secondary market option. During your artworks appreciation phase, it will be displayed in a gallery in the famed art district of SoHo, New York. With Masterworks, small investors can buy shares directly in pieces of art they like. SL: This is the 10th-plus start-up Ive done. Its a much different risk profile. At least someone is seeing it, until it heads to auction again. Scott has been an active collector of contemporary art for more than fifteen years and has built an internationally-recognized collection of Abstract Expressionism that has included works by Clyfford Still, Barnett Newman, Mark Rothko, Willem de Kooning, and more. What else will be distinctive about your trading platform? There are two ways an investor can get a return, Lynn said. If after seven years, Masterworks doesnt find a private buyer, the company will attempt to sell the painting at auctions and other avenues. The great thing about Masterworks compared to anything else Ive done is everyone loves talking about the idea. In a lot of ways with art its easier to understand than investing in a public equity. Masteworks builds transparency into the user experience, with a user education portion to its website. Theres not much Masterworks can do about this pain point. However, approval of your application is not guaranteed. He Founded Masterworks in 2017 after realizing that art had better risk-adjusted returns than other asset classes, but the only way to invest is if someone has millions of dollars to buy a painting, or Other applicable fees may apply, which are detailed in the offering documentation that investors receive. We do this by providing a free comparison service as well as product reviews from our editorial staff. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. Masterworks investors are required to meet a minimum investment depending on the piece of art they are investing in. How the Web3 stack will automate the enterprise, Why Web3 represents a new frontier for personal data ownership. Does India have what it takes to challenge China in electronics manufacturing? There is no option to pay this fee in cash as they deduct this charge in equity each year, gradually reducing the number of shares owned. WebScott Lynn. Members-only fine art gallery in New York. Then we have blue chip paintings, created by artists like Warhol, Basquiat and other well-known household names, that we define as having low or reduced risks and produce high single-digit or low double-digit returns. purchased in November 2017 for $1,815,000. It hopes this will be the first SEC-qualified offering under Reg A+, which allows investors to take part in fine art investment. The most active insiders traders include Michael Isor Roth, Robert S Jr Prather, and Colin V Reed. Overtime, wed like to roll out portfolio construction tools or fund products. Thats exciting. SL: We have 37,000 investor accounts now and will have 100,000 by the end of the year. Past performance is no guarantee of future results. It took us a year and a half to get through the SEC. Terms & Privacy The companys research team evaluates promising contemporary artists, and purchases artworks that they deem have a good likelihood of gaining in value over time. Scott: Yeah, its a $1.5 trillion asset class, roughly $60 billion in art sales every year. Lynn, an active collector of contemporary art himself, started the platform to make pieces by, say, Jean-Michel Basquiat or Pablo Picasso, more in-reach for DIY investors looking to diversify. Last updated: 17 April 2023 at 2:33pm EST. How important are aesthetics in influencing your investors? Performance information may have changed since the time of publication. Whos the person or institution buying it from you? Want must read news straight to your inbox? Photo by Guy Bell / Shutterstock, The Greatest Women Artists You've Never Heard Of. Blocking categories may impact your experience on the website. San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person. Wed rather give them to museums or institutions. New York, NY, US View. You have to be comfortable leaving your money locked up for several years or even losing it. WebScott Lynn is the Founder and Chief Executive Officer of Masterworks, an art investment company based in New York City. We thought when we started there would be a lot of art people, but the majority of the people are just investors, learning about a new asset class and diversifying their portfolio. Obviously when we started a year and a half ago, we were holding them much longer, but theyre moving quickly now. That makes Masterworks best for customers who are willing to take on some extra risk for the chance of higher gains. You may also access your account via a mobile app. Firstly, an investor can sell their shares to another investor on an approved trading platform. As an entrepreneur, thats nice to see. While Masterworks' business model is to focus on established artists and works that have a good track record, be mindful that just like any investment, art is still risky. The sign up process is mostly complete at this point, so your account should be ready to go in minutes. This kind of ownership structure is available within NFT smart contracts, but the ease of use with Masterworks is unique. Not only would you need to pay the entire price of a work of art upfront, you would also need the ability to pay for ongoing costs of storage and insurance. It used to be that youd buy art for the sake of enjoying it. Anyone whos ready to venture into alternative investing and has a medium time horizon will love Masterworks, even though the fees are a little wonky and the concept of blue-chip art for all is still new. Conversely,people have made money 95 percent of the time with Jean-Michel Basquiat. In order for your rewards to be paid, you must submit your claim within 45 days. Scott Lynn is the Founder and CEO of Masterworks.io. You can decide how many shares you want to buy at the listed price. From May 2002 to August 2003, Mr. Lynn was Senior Counsel at Progeny Marketing Innovations, a subsidiary of Cendant Corporation. The information contained herein regarding available investments is obtained from third party sources. Longer time horizons than other fintech options. At the end of 2019, we published a report with Citibank on art as an asset class. How does blockchain technology help realize Masterworks vision? SEC regulatory fees dont come cheap, either. We felt collecting that data was a prerequisite to selling someone a Masterworks investment vehicle. The Company's core holdings* include a network of five of the top 10 largest non-gaming convention center hotels in the United States based on total indoor meeting space. Eligibility criteria apply. Jonas Woods painting Hammer 5 was a different type of offering for us. This art asset class has traditionally been available only to billionaires and has been historically proven to hold its value over time. We just launched Alex Katzs painting Maxine two weeks ago, and as of today, its sold out. Shares are sold at $20 and an initial investment of $3,000-$5,000 is recommended to get started. While Masterworks charges a high annual management fee, you are ultimately the one who picks the fractional shares that make up your portfolio. For us its better because theres a point of existing in the public domain, and its somewhat promotional for us. However, the Class A structure is distinct because it splits ownership up between multiple buyers. If youre looking to diversify your portfolio by investing in artwork without spending a fortune, Masterworks offers a compelling platform. Scott Lynn is the founder of Masterworks and the founder and chairman of Payability and V2 Ventures. Founded in 2017 by Scott Lynn, Masterworks is a groundbreaking platform that offers individuals the opportunity to invest in shares of high-value artwork. How do you get your funding to purchase the paintings? Masterworks even recently added a secondary market, too, where investors can trade shares in paintings. An art start-up founded in 2017 by tech entrepreneur Scott Lynn, Masterworks offers art-industry outsiders a stake in the net worth of a not-quite-priceless NG: The number of data points to understandhow is a Basquiat appreciating over time?is not dissimilar from valuing a home, looking at appreciation over time. Jonas Wood has a shorter track record but has grown 40 percent year over year. Meb Faber Research - Stock Market and Investing Blog , Masterworks lets investors buy art shares from Picasso, Monet, Pete Najarian was buying this Big Tech stock during Mondays sell-off, Here are Mondays biggest analyst calls of the day: Micron, Tesla, GameStop, Microsoft & more, Banks are jumping on higher rates and Citi says these three may be the best of the bunch, Masterworks: Demystifying & Democratizing Art, Analysts see strong growth ahead in 2021 for stocks like Amazon and Eli Lilly, Here are Tuesdays biggest analyst calls of the day: GE, Microsoft, Ulta, Target & more, This startup is offering a new way to invest in million-dollar art. You wont owe anything for buying the shares initially or for selling them to another investor on the secondary market. Finty is not a credit provider, nor does it advise consumers to apply for a specific product with any provider in particular. After my first company was successful, I started acquiring paintings by artists like Picasso. NG: The overall way to think about risk is how large each market is. While anyone can get started investing in NFTs today, we recommend learning about blockchain and cryptocurrency first, as this ecosystem is still volatile. Experience immediate payouts, transfer of ownership within seconds and hassle-free happiness. You do not have the option to pay the fee in cash. Perhaps most similar to Masterworks is buying and selling NFTs on primary and secondary marketplaces. SL: If you look at the art market as a whole, this year $68 billion in art will sell. Secondly, a collector can make an offer to purchase a painting from investors, and they can vote on whether or not to sell.. Even a painting by a top artist loses value occasionally. Plus, Masterworks lets you invest your IRA earnings into their fine art through its partnership with Alto IRA, an alternative asset investing platform. Anyone can come in and do it on a self-serve basis. It generates revenue every time a piece of art is sold on its platform through a primary offering or secondary market sales. Its interesting to see how people choose which painting to invest in. For the most part, these high-net-worth individuals are staying close to their purchases. Please refer to our T&Cs for more information. All of the big names, those artists arent going away. As the Executive Vice President, General Counsel, and Secretary of Ryman Hospitality Properties Inc, the total compensation of Scott Lynn at Ryman Hospitality Properties Inc is $1,395,440. Of the 36,000 whove signed up with you, how many have invested? Catch up on Select's in-depth coverage ofpersonal finance,tech and tools,wellnessand more, and follow us onFacebook,InstagramandTwitterto stay up to date. We signed up 600 investors yesterday. The first important painting I acquired was a Marc Chagall, Le Pont Neuf, which was offered for sale at Sothebys last season.. Privacy is important to us, so you have the option of disabling certain types of storage that may not be necessary for the basic functioning of the website. When you invest with Masterworks, you buy shares of paintings the platform has invested in. SL: Its all balance sheet capital. SL: We would always consider it, but its usually better to sell paintings privately. Web#387 Scott Lynn, Founder & CEO at Masterworks.io - Democratizing Investments in Fine Art Today were talking to Scott Lynn, the Founder of Masterworks. Finty So while speculative, this world-class artwork does a better job in holding consistent value over time. There are 3 executives at Ryman Hospitality Properties Inc getting paid more, with ColinReed having the highest compensation of $6,191,610. Individual investors are limited to owning no more than 10% of an individual work of art. SL: Our prices are correlated to global ultra wealth creation, for better or for worse. Scott's mailing address filed with the SEC is ONE GAYLORD DRIVE, , NASHVILLE, TN, 37214. Today is no exception. Art investments averaged a 14.1% annual return over the past 26 years. WebScott Lynn. Additionally, Masterworks is exploring international markets to diversify its portfolio and increase its customer base. Once youve acquired the paintings, where do they go? That said, Masterworks experts vet the quality of each piece and they only list those that they think have good investment potential. For investors who have a strong interest in contemporary art, this might not be a major disadvantage. Alt is a low-fee platform that lets you purchase, trade, and auction off sports cards. A year and a half is a long time. Our best day so far. SL: Most people have U.S. bank accounts but that doesnt necessarily mean theyre living here. How do I obtain fine art insurance to protect my collection? For some potential users who prefer an online-only investment experience and want to get started right away, the interview process might be annoying. In addition, the platform itself is reportedly easy on the eyes with streamlined features. Now 38 years old, Lynn started collecting modern art when he was only 19. I started my first internet company when I was in high schooland have always been interested in fine art, Lynn, who also serves as CEO, told me. Heres what Im thinking of. SL: It depends on the painting but the minimum range is between $1,000 and $10,000, so starting at 50 shares. SL: Damien Hirst and Jeff Koons have some of the worst returns. The average annual return of art was 8.9% between 2000 and 2019. The 20% sale commission to the end user is the most significant source of revenue for Masterworks. He was the Senior Vice President, General Counsel and Secretary of the Company, a position he has held since January 2013 to April 2018. While MoneyMade generally considers such sources to be reliable, MoneyMade does not represent that such information is accurate or complete, and MoneyMade has not undertaken any independent review of such information. Determined to monetize what he says has been a shockingly overlooked piece of the $68 billion global art market, startup veteran Scott Lynn founded Masterworks in Masterworks is an alternative investing platform that sells shares in works of fine art. The Masterworks platform today has over 250,000 investors signed up, with most looking for another way to diversify their portfolios. Get 5 free searches. Masterworks CEO Scott Lynn returns to Invest Like a Boss after appearing on the show for Episode 146 in June 2020. Mr. Lynn owns over 8,299 units of Ryman Hospitality Properties Inc stock worth over $2,101,899 and over the last 10 years he sold RHP stock worth over $1,428,645. His collection is currently valued at over $100 million, and he sees this venture as a way to Buyers' tastes can change and art/artists can go in and out of style, which affects the works' resale values. Related 1.5% annual management fee, plus 20% of any profits, Learn About The Masterworks Investing Platform. Here's how the platform works: Masterworks will purchase a painting and file it with the SEC as a public offering, or IPO, similar to how a company goes public. From here, you can fund your account with a bank transfer, debit card, or credit card and start investing. While the management fee and 20%-of-profit fee are in line with a hedge fund's industry standard, these fees are relatively high when compared to investing in something like a market-tracking index fund. His collection is currently valued at over $100 million, and he sees this venture as a way to democratize access to iconic pieces of art. It is the majority owner and managing member of the joint venture that owns Gaylord Rockies Resort & Convention Center. Where Masterworks gets it right Blue-chip art at your fingertips On no other platform can you gain access to modern masterpieces in the $500,000 to $10,000,000 range. Here's What to Know About Buying and Selling. Some of the products and services listed on our website are from partners who compensate us. The potential to earn (for both investors and creators) is highbut there are no guarantees. Arts been traded for centuries, and outside of real estate, it might be the oldest asset class there is.

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