Masterworks Advisers LLC
| Company type | Private |
|---|---|
| Industry | Financial services, Art investment |
| Founded | 2017 |
| Founder | Scott Lynn |
Area served | United States |
Key people | Scott Lynn (Founder) |
| Products | Art investment platform |
Masterworks Advisers LLC operates as a U.S.-based firm within the financial services sector, focusing specifically on investments in the art market. The company purchases artworks and registers them with the SEC as part of a public offering, subsequently offering shares on its platform at various price points. As of April 2024, Masterworks boasts a membership exceeding 800,000 individuals and oversees assets valued at more than $900 million. Its collection features pieces by renowned artists such as Banksy, George Condo, Cecily Brown, Simone Leigh, Claude Monet, and Andy Warhol.
History
Established in 2017 by Scott Lynn with the goal of making art investment accessible, Masterworks has since concentrated more on affluent clientele. In 2021, the company secured $110 million in Series A financing led by Left Lane Capital, which placed its valuation above $1 billion. By early 2022, Masterworks had acquired upwards of 100 paintings with a combined estimated worth close to $450 million.
Although the company experienced swift expansion, only about 5% of its registered users had made investments by mid-2023. During this period, Masterworks increased its marketing expenditures from $5 million to $9 million, amid reports from some staff regarding the employment of assertive strategies to obtain top-tier advertising spots.