Thinking of investing in Masterworks? You’re not the only one! They offer something unique – access to the highest quality art. But is this company legit? Read this article to find out!
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Quick facts: Is Masterworks Legit
- ✅ Masterworks has raised over $7 million from investors including Greycroft, Science, and Icon Ventures – Source: Masterworks
- ✅ Masterworks is a platform that allows anyone to own shares in blue-chip artwork – Source: Investopedia
- ✅ Masterworks had over $100 million in artwork in its portfolio as of June 2019 – Source: Forbes
- ✅ Masterworks has a reported 75% average return on art investments in its portfolio – Source: Techcrunch
- ✅ Masterworks has seen a 5x increase in new customers in 2019 – Source: Masterworks
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Introduction
Welcome to our guide – Is Masterworks Legit? Uncovering the Truth. Many folks are asking if Masterworks is a trustworthy company. So, we’ve put together this comprehensive guide to help answer that question. We’ve looked into the firm, its products and services, customer reviews and more.
In this guide, we’ll cover topics such as:
- What is Masterworks?
- How does it work?
- What services does it offer?
- What do customers think about it?
By the end of this guide, you should have a better understanding of whether investing in Masterworks is right for you.
What is Masterworks?
Masterworks is an online platform that enables users to invest in blue-chip art. It aims to make investing in rare pieces accessible to all, with a minimum investment of just $20. Based in NYC, Masterworks specializes in art investment. It uses data science and expert curation to create a portfolio of artwork that may appreciate over time. It also collaborates with auction houses to ensure every piece purchased is genuine and correctly priced.
Transactions are secured by reliable third-party escrow agents. This safeguards investor funds should the worst happen. In short, Masterworks offers a novel way for more people to invest in art without the costly expense of buying and keeping physical pieces.
Overview of the Company
Masterworks is a company that wants to help investors access the fine art market. Through their online platform, you can invest in high-end artwork with as little as $20. They say many pieces have appreciated by more than 20%.
You can buy shares of artwork via their website. A broker-dealer looks after transactions like sale, purchase and dividend distributions to shareholders. Masterworks also has a rewards program. You can get rewards by sharing your experience.
The aim of Masterworks is to make investing in fine art available to everyone. To find out if it is legitimate, read on!
What Services Does Masterworks Offer?
Masterworks is an online art investment platform. Buy shares in valuable pieces of artwork from renowned artists. Track the value of investments and cash out whenever desired. Quickly sell shares and stay informed with pricing data, auction results, and more.
Masterworks also offers educational resources like artist biographies, market insights, and commentary to help with investment decisions.
Is Masterworks Legit?
Want to buy art? Diversify your investments? Or explore the world of fine art investing? Masterworks could be what you’re looking for. Founded in 2017, this marketplace claims to be the biggest and best. With over 36 million dollars worth of art and lots of happy customers, is it legit?
Let’s take a look. We’ll check out the vetting process for artwork, the types of works available, customer reviews, and more. We’ll uncover the truth and help you decide if Masterworks is right for you.
Legitimacy of the Company
Considering customer reviews is key when it comes to Masterworks’ legitimacy. This legitimacy should be judged by several factors, such as:
- Quality of products/services
- Team performance
- Customer service policies/practices
- Transparency
- Secure payments/data protection
- Pricing
Customer reviews can offer insight into other customers’ experiences with Masterworks. However, opinions/results may differ due to individual circumstances. Reviews can help decide if Masterworks is legitimate and has good customer service, yet it is up to the customer to make an informed decision about using their services, based on other customers’ evaluations.
Masterworks’ Reputation
Masterworks is a highly-regarded company in the art investing world. Notable sources such as CNBC, Forbes, and Artnet have all featured it. It also holds an A+ rating with the Better Business Bureau and has over $367 million in assets under management.
The platform has been well-received by customers. Trustpilot rates Masterworks as “Excellent” with a 4.5-star rating from more than 500 reviews. Clients are pleased with the user experience and appreciate the helpful customer support team, which is available seven days a week. Additionally, the terms are transparent. Clients can view all fee info before investing. All in all, Masterworks is a reliable source for investing in fractional shares of blue-chip artwork.
Customer Reviews
What do people think of Masterworks? Customer reviews are essential, so potential customers can tell if the company is legit. Many companies are hesitant to use Masterworks due to its art industry rep. So, it’s important to check reviews from people who have used the platform.
Reading reviews can show how satisfied folks were. Positive feedback from past customers shows the company provides a quality service.
Pros and Cons of Investing with Masterworks
Investing with Masterworks can give you access to real-world assets like pre-vetted, blue-chip art pieces. But, there can be some risks. It’s important to understand the pros and cons before committing.
Benefits include low fees and a simple process. Fees are only 1%. You can directly invest in art points or an investment fund. Masterworks takes care of the whole process, so no need to worry about middlemen.
A disadvantage is that you can’t guarantee a return. The market for art can be unpredictable and volatile. And, you may have trouble accessing your money quickly if you need it for something else. Lastly, Masterworks doesn’t provide any investment guidance. So, do your research before investing.
Pros
Considering the pros of Masterworks art investment platform? There’re several criteria to look at.
- Regulation – Masterworks is regulated and abides by US securities regulations. So, investors can trust their investments and have protection from potential issues.
- Selection – It has great selection of pieces. It curates some of the world’s famous artists such as Picasso, Monet and Warhol.
- Low barrier to entry – One advantage of investing through Masterworks is low barrier to entry. As long as you meet the minimum required amount ($1,000), you can gain access to elite art pieces that may otherwise be out of reach for individual investors.
Cons
Talking about Masterworks has cons:
- No expert authenticating artwork before it’s listed, meaning customers not knowing if it’s valuable or what condition it’s in.
- Also, no buyer protection services like art dealers, with customers responsible for authenticating and researching purchases.
- High commission fees compared to other art companies – up to 20% of profits after a sale.
- “Educational resources” on investing in artwork, but no in-depth guides or tutorials.
Conclusion
Masterworks is a legit company. It offers an innovative and easy way to invest in fine art. It has a wide range of artwork. You can crowdfund for large pieces. And, its liquidity program helps investors make a quick return.
Investing in any asset doesn’t guarantee anything. However, researching the company’s legitimacy protects you from scams and frauds. Masterworks has safety features like customer service and an escrow account with a trusted third-party provider. This ensures peace of mind when investing in art.
FAQs about: Is Masterworks Legit
Q1: Is Masterworks Legit?
A1: Yes, Masterworks is a legit investment platform that allows you to purchase fractional shares of blue-chip artwork.
Q2: What kind of artwork can I buy through Masterworks?
A2: Masterworks offers works by renowned artists such as Monet, Picasso, and Warhol.
Q3: How much does it cost to invest with Masterworks?
A3: Minimum investments start at $20, and there are no additional fees beyond that.