scott lynn masterworks net worth

The use of this website means that you accept the confidentiality regulations and the conditions of service. All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Conversely,people have made money 95 percent of the time with Jean-Michel Basquiat. The way to think about the game for emerging artists, is that if youre well-connected in the art market, you understand how to collect them, but thats not a game that were interested in playing. The plan is to allow artists foundations, artists themselves or institutions to take those paintings on loan. In art, theres really no way to invest other than to buy a painting.. In addition, he makes $1,395,440 as Executive Vice President, General Counsel, and Secretary at Ryman Hospitality Properties Inc. Scott has made over 32 trades of the Ryman Hospitality Properties Inc stock since 2013, according to the Form 4 filled with the SEC. The database provides financial information about each piece of art, like its most recent sale, its gross appreciation, and its annual investment return. However, providers can change any aspect of a product at their discretion and may not notify us of a change. We didnt frankly know that when we started the business. While Masterworks is the only platform making blue-chip artthe kind of artwork you learned about in art history classaccessible via Class A shares, theres nothing stopping anyone from buying digital collectibles with a minimum investment of $0. The credit providers final decision is made at their discretion, subject to decisioning criteria. Coming up next Once weve secured the painting, theres the immediate question of how its performing for people who would otherwise just assume they could never invest in it. Alternative investments like artwork are a type of hedge that operates independently of the stock market. But the art market is global and we think even that risk is fairly small. Are there competitors to you, or other platforms that are relevant at this level of collecting? Masterworks pre-vets artists and artworks, but the art market overall operates in a much less regulated environment than the stock market. Ryman Hospitality Properties, Inc. (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and country music entertainment experiences. 2023 Forbes Media LLC. What was once an option reserved exclusively for wealthy investors is now accessible to investors of all types. Consider Masterworks the icing on the cake, but make sure you have fully utilized retirement accounts such as IRAs and 401(k)s. People like Masterworks for giving them the opportunity to own a piece of art history. The Masterworks platform is clean, simple and well-designed. Keep in mind, however, past performance does not guarantee future success. A lot of that was our fault in terms of things that we had in the offering circular that were technically wrong or complex. 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. Now 38 years old, Lynn started collecting modern art when he was only 19. The platform offers good research and support resources, and features a well-designed, easy-to-use interface. Get 5 free searches. However, the Class A structure is distinct because it splits ownership up between multiple buyers. 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 Scott's mailing address filed with the SEC is ONE GAYLORD DRIVE, , NASHVILLE, TN, 37214. Lynn and his colleagues analyze artists resale values, target the artists with the strongest demonstrated secondary market performances, purchase their paintings and offer investors shares. SL: We would always consider it, but its usually better to sell paintings privately. Shopping recommendations that help upgrade your life, delivered weekly. Unfortunately, Masterworks doesnt publish reports on its performance. Oftentimes they knew the artists personally, and they surrounded themselves with their work. Masterworks makes it relatively easy for investors invest in contemporary artwork by famous artists like Banksy and Jean-Michel Basquiat. Terms & Privacy During this same period, the S&P 500 earned 9.9% per year. Finty does not list every product currently available in the market. 1201 N. Orange Street Suite 7160, Wilmington, DE 19801, United States. Today there are still those collectors who buy art and keep iteven when they have an eye toward one day selling it, and even if they dont know a whole lot about art, such as Steve Cohen or Jeff Bezos. 00:00:00 00:57:51. Similar to Masterworks, Alt also offers tools to help users understand valuation and price history, including a comprehensive database and a proprietary analysis tool. And, a recent sale on the Masterworks platform returned 32% to investors in under 12 months. Perhaps most similar to Masterworks is buying and selling NFTs on primary and secondary marketplaces. These are artists doing $15 million to $30 million a year total transaction volume. Scott Lynn, founder and CEO of Masterworks, tells Select that he started the company in 2017 after seeing the value of his own art collection appreciate and believing that it should be available for all types of investors. We frankly think thats a much less interesting business. Past performance is not indicative of future results. You can read our offering circular on our painting going public on the SEC website. Its a common trope that art is somehow super volatile, but thats not our experience. Results let users read up on the artist and view historical metrics such as purchase and sale price(s) and total return of each painting. Are you sure you want to rest your choices? Heres what Im thinking of. This year, well buy upwards of a billion dollars in art, so were clearly the largest player at this point. Theres already established longevity and a secondary market. Masterworks was the first company enabling investors to buy and trade shares in multi-million dollar masterpieces created by world-renowned artists. After my first company was successful, I started acquiring paintings by artists like Picasso. Once youve acquired the paintings, where do they go? SL: Its all balance sheet capital. Ultimately, its guided us around which artists we offer on the platform. There is another platform that is super cool, called Rally Road, which is investing in collectible cars. Similar to Masterworks, Alt also offers tools to help users understand valuation and price history, including a comprehensive database and a proprietary analysis tool. The biggest complaints are that you have to sign up for this platform with a phone interviewyou cant do it fully online. Masterworks is invite-only, but luckily invitation requests are often approved automatically. I agree to receive the Forbes Advisor newsletter via e-mail. Ryman Hospitality Properties Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, insiders at Ryman Hospitality Properties Inc, Stocks and cryptocurrency portfolio tracker. At least someone is seeing it, until it heads to auction again. Below, Select breaks down Masterworks' operation and what to know before joining. Investing in art involves unusual risks, however. You can decide how many shares you want to buy at the listed price. This is achieved by letting users buy Class A stock shares on the platform. Historically, artwork has a higher return compared to other investments like stocks, bonds, and real estate. It used to be that youd buy art for the sake of enjoying it. Some of the products and services listed on our website are from partners who compensate us. Through its platform, investors can purchase shares starting at $20 and earn modest returns when the paintings sell. Which kinds of paintings do you target, and how do you manage risk? Scott Lynn is a serial tech entrepreneur who has been collecting art for over 20 years. SL: Were growing so fast. 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. Please see our. SL: Its very high level and weve published a lot of our research on our website. Scott Lynn, founder and CEO of Masterworks, tells Select that he started the company in 2017 after seeing the value of his own art collection appreciate and believing Single women own more homes than single men but get lower returns here are 5 tips to change that. The estimated Net Worth of Scott J Lynn is at least $4.88 Million dollars as of 15 March 2023. Masterworks makes money by selling fractional shares in investment art to investors, charging a commission on eventual sales, and charging storage and insurance fees. Jonas Woods painting Hammer 5 was a different type of offering for us. 2023 No representation or warranty is made as to the reasonableness of the methodology used to calculate such performance. 2. SL: It definitely exists, but not in the segment of the market were playing in. For us its better because theres a point of existing in the public domain, and its somewhat promotional for us. Regulatory risk: The art investment market is heavily regulated, and Masterworks must comply with these regulations to remain operational. See Scott Lynn's compensation, career history, education, & memberships. Secondly, a collector can make an offer to purchase a painting from investors, and they can vote on whether or not to sell.. To give you some context, lets take a look at the historical performance of art and the Masterworks platform. Heres how this online fine arts investment platform works: 1. Collectible Cars Are a $1 Billion Market. We tell investors that the way to think about liquidity when investing in one of these vehicles is to see these as three- to seven-year illiquid investments. One of the things weve found is that nobody really knows how to think about investing in art. We did the offering three months ago and sold the painting to investors in less than a week. Masterworks could be a good option for people who want to add alternative investments in fine art to their portfolio, but would prefer to avoid the costs, risk and hassles of buying entire works of art themselves. From a regulatory perspective, we have to buy the painting before we file with the SEC, so it all goes on the balance sheet. Were building it as a benefit to existing investors. At one point, I had one of the largest collections of Picasso ceramics (something I wouldnt admit to today!). We focus on number of times when people sell at auction, how many times have they lost money? Contrast this approach with a robo-advisor or a mutual fund, where experienced, professional money managers select the investment assets that make up your portfolio. Business Details Location of This Business NG: I think the art market is vastly different than cars or wine or watches. Masterworks members can also sell shares of paintings. NG: The overall way to think about risk is how large each market is. In addition, its open to any type of investor. If you look at the top 100 artists, the only one whos consistently produced negative returns is Damien Hirst. We thought that but we didnt actually know that. Best of all, they offer a contemporary art price database to track thousands of pieces of art. WebInvest in multimillion-dollar paintings Attractive historical price appreciation Buy and sell shares on trading platform Receive proceeds when the painting sells Request Invitation 676,879 Members 239 Artworks Purchased $721,746,569 AUM Figures as of 03/31/2023 Net Annualized Track Record Banksy Annualized Net Return 32.0% 378 days held Your phone interview will consist of basic questions about your investing style, goals, and how much you'd like to invest. Masterworks is therefore great for DIY investors who dont want help from investment brokers to diversify their portfolios. 5. 1 The use of "featured", "popular", "best" and "top" on Finty do not constitute a product rating or recommendation and are subject to our general disclaimer. The most recent stock trade was executed by Christian A. Brickman on 22 March 2023, trading 4,307 units of RHP stock currently worth $386,166. 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. Every single offering we do is treated as a public offering for a public company. 6. From May 2002 to August 2003, Mr. Lynn was Senior Counsel at Progeny Marketing Innovations, a subsidiary of Cendant Corporation. Enter Masterworks: a unique way to invest in art without having to spend millions of dollars on original art masterpieces. Masterworks provides users with very good research resources on comporary art and the fine art market. The corporates main mission is to democratize entry to the profitable world of blue-chip artwork, which has historically been reserved for ultra-high-net-worth people and elite collectors. As an entrepreneur, thats nice to see. With the enterprise plan, users can go a step further and search art market returns by artist and by artwork. WebScott Lynn. In October 2021, Masterworks raised $110 million in series A venture capital funding, at a total valuation just above $1 billion. Investors will never see the art. If the painting you invest in appreciates in value, the value of your shares goes up as well. After this minimum time horizon, the paintings are assessed for sale potential. Then there are art dealers, who are a step removed from the artworktheir job is to flip itbut in this process, the art is often put on display for the general public. The Forbes Advisor editorial team is independent and objective. The platforms secondary market provides users with a way to cash out early, but that also carries risks. Where do you want to be five years from now? 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. For the most part, these high-net-worth individuals are staying close to their purchases. The interview is not a way to reject some applications; on the contrary, it provides a way for Masterworks to get to know you better, answer your questions and recommend investments. That painting could theoretically sell much sooner than we expected. Whats been your greatest success so far? Of all the high-end alternative investments in the world, fine art has shown long-term returns that rival that of bonds. Top Masterworks Employees Scott Lynn Founder & CEO. How do you get your funding to purchase the paintings? The firm targets a 310 year hold but with its Secondary Market, investors have the potential to exit early. After purchasing a work of contemporary art, Masterworks files with the Securities and Exchange Commission (SEC) to sell fractional shares in the work to investors via their platform. Once the SEC approves a filing for an individual work of art, Masterworks sells shares for 90 days to their members as a primary offering. After purchasing a piece of contemporary art, Masterworks registers it with the Securities and Exchange Commission (SEC) to enable it to sell fractional shares in the work to investors via its platform. There are 3 executives at Ryman Hospitality Properties Inc getting paid more, with ColinReed having the highest compensation of $6,191,610. The average time horizon to see any ROI is somewhere around 60 months (five years), with a minimum waiting period of three years. But todays options for valued art and collectibles have exploded, particularly with the rise of blockchain and non-fungible tokens (NFTs). Easy access the fine art market for beginners, Storage, transportation, appraisal, insurance, and other costs covered by Masterworks, Masterpieces are stored securely in a climate-controlled facility, 1.5% annual fee, 20% commission on profits, and 10% premium on the purchase price of each painting to cover the cost of buying, transporting, and storing fine art, You must conduct a phone interview to finalize your account, Founded in 2017, giving it a fairly short track record, 3 to 7 year typical waiting period to see ROI, Investment opportunities can be scarce and hard to nab. These items are required to enable basic website functionality. SL: Our prices are correlated to global ultra wealth creation, for better or for worse. Theyre in the museums, theres strong provenance, theyre recognized by the artists foundations. On average, Ryman Hospitality Properties Inc executives and independent directors trade stock every 12 days with the average trade being worth of $807,837. So the model is that youre doing an IPO of a painting? This art asset class has traditionally been available only to billionaires and has been historically proven to hold its value over time. The great thing about Masterworks compared to anything else Ive done is everyone loves talking about the idea. Masterworks also provides articles and videos teaching people about art investing. And since it was only founded in 2017, theres insufficient historical data to evaluate its longevity and performance. The investments identified on the MoneyMade website may not be purchased through MoneyMade; rather, all transactions will be directly between you and the third-party platform hosting the applicable investment. SL: Yes, its literally an IPO of a painting. Once the artwork is SEC-approved, Masterworks informs its members and allows them to purchase fractional shares at the listed price of $20 per share. Our appraisal was $1.8 million, the offering was $1 million. Artwork can offer extra diversification for your portfolio. Significantly, Masterworks is working with the SEC to make it possible for accredited and retail investors to take part in the offering. WebGet Scott Lynn's email address (s*****@masterworks.io) and phone number (816-305-.) at RocketReach. 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. For the past 15 years, contemporary art sold at auction houses has appreciated in value at a rate faster than the S&P 500. You dont have to be an accredited investor or high net worth individual to use their services. 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. 5+ masterworks.io; WebScott Lynn is the founder of Masterworks . Masteworks builds transparency into the user experience, with a user education portion to its website. Getting in on a piece of iconic art at a price that doesn't break the bank can be every bit enticing, but know that investing in art is a multi-year commitment. Most recently he exercised 8,299 units of RHP stock worth $744,088 on 15 March 2023. The process is simple and takes care of all the necessary forms to start investing. So if you bought three shares of a Banksy painting and decided one year later to get out of your position, you can sell your shares on the secondary market. With Hirst, people have lost money 57.1 percent of the time. In 2014, Scott founded Payability, a digital lending provider. Previously, he held the same positions at Adknowledge. Greater New York Area Early Stage Companies With Less Than $10M in Revenue, Companies With Less Than $50M in Revenue (Top 10K), Greater New York Area Startups Founded in 2017, Art Companies With More Than 10 Employees, New York Companies With Fewer Than 100 Employees (Top 10K), Companies With More Than 10 Employees (Top 10K), Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. Scott Lynn is the founder of Masterworks and the founder and chairman of Payability and V2 Ventures. You have to be comfortable leaving your money locked up for several years or even losing it. And in 2018, art delivered a return of 10.6% as opposed to S&Ps -5.1%, -4% for real estate investment trusts (REITs), and -1% for gold. An indispensable guide to finance, investing and entrepreneurship. The companys first acquisition was Andy Warhols 1979 painting 1 Colored Marilyn (Reversal Series), for a purchase price of $1.82 million. With a minimum investment of $1,000, anyone can invest through the Masterworks platformthough there is a short phone interview required. At Finty we want to help you make informed financial decisions. Fine art isnt stuffy anymorebut its still lucrative. From 2000 to 2018, fine art outperformed the S&P 500 by 180%. Mr. Lynn is a graduate of the Vanderbilt University School of Law and Tennessee Technological University. Thats higher than the long-term capital gains tax rate on conventional investment assets, which tops out at 20% for the wealthiest Americans. Scott Lynn is the Founder and CEO of Masterworks.io. And your biggest challenge? The question is: What policies on an international level could impact that segment of the population? Had you anticipated that, or was it a bit of a learning curve? It looks and feels like an S-1. This year, the art market is $68 billion.All of those other asset classes individually are less than $1 billion. NG: Contrast that to the second painting we did, which was Banksys Mona Lisa. Nigel Glenday: Were playing in a secondary market with half a million dollars and up. SEC regulatory fees dont come cheap, either. This may influence which products we compare and the pages they are listed on. Finty are not responsible if you do not meet the minimum criteria for a product. SL: We have found this a very strange product market in that our investors arent really big or really small. It can take three to ten years before Masterworks sells a work of art from its portfolio, and theres no guarantee that art works will earn a profit when they are sold. 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 However, Masterworks does not charge transaction fees. Were working with million dollar-plus paintings. Its growing really fast. 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. In exchange for using the Site, you agree not to hold MoneyMade, its affiliates or any third party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the Site. Scott J. Lynn serves as Executive Vice President, General Counsel, Secretary of the Company. Paintings are displayed in a members-only art gallery in SoHo, New York for a minimum of three years. Whats the smallest quantity of shares someones bought, and the greatest? This kind of ownership structure is available within NFT smart contracts, but the ease of use with Masterworks is unique. Related Theres also some speculation on Twitter and other social media threads that the historical data for fine arts ROI are just too good to be true. By strategically purchasing investment-grade works of art, Masterworks is democratizing the art world by making high-end art investment accessible to everyone. The Greatest Women Artists You've Never Heard Of, Private collections, he says, amount to $1.7 trillion in asset value. The Company's Entertainment segment includes a growing collection of iconic and emerging country music brands, including the Grand Ole Opry; Ryman Auditorium, WSM 650 AM; Ole Red and Circle, a country lifestyle media network the Company owns in a joint-venture partnership with Gray Television. Investors must wait until Masterworks sells the painting in order to see, hopefully, a gain. This compensation comes from two main sources. The Company operates its Entertainment segment as part of a taxable REIT subsidiary. The standardized performance presented herein has been calculated by MoneyMade based on data obtained from the third-party platform hosting the investment and is subject to change. SL: We would likely sell the painting privately. Your investments aren't guaranteed to go up in value, and exact returns will depend on the paintings you choose to invest in and the overall performance of the art market. We tell people theres a three- to seven-year hold. Scott Lynn: We were the first company to buy a painting, file with the SEC and sell shares in the painting. Masterworks even recently added a secondary market, too, where investors can trade shares in paintings. The first important painting I acquired was a Marc Chagall, Le Pont Neuf, which was offered for sale at Sothebys last season.. Okay, Masterworks is great and makes art accessiblebut the fees are still enough to make you do a double take. Founder & CEO at Masterworks, Founder & Chairman at Payability, 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. VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Other applicable fees may apply, which are detailed in the offering documentation that investors receive. And compared to dividend-delivering stocks, be prepared to wait. They are going to be in the major day sales. Want must read news straight to your inbox? All of the big names, those artists arent going away. Related SL: Six. If youre looking to diversify your portfolio by investing in artwork without spending a fortune, Masterworks offers a compelling platform. If after seven years, Masterworks doesnt find a private buyer, the company will attempt to sell the painting at auctions and other avenues. We know that today. 1. These convention center resorts operate under the Gaylord Hotels brand and are managed by Marriott International. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. For the average American investor who has until now been unable to participate in fine art investments, its easy to see why the idea of paintings outperforming the S&P 500 might raise an eyebrow. Most people havent asked these questions because they just assumed they couldnt invest in art that costs millions of dollars. The sale of fractional shares to high-net-worth investors, storage fees, and insurance fees contribute to the companys overall profitability. I dont know why that is. Understanding whether Google is over- or underpriced is hard. Its interesting to see how people choose which painting to invest in. Experience immediate payouts, transfer of ownership within seconds and hassle-free happiness. Its sole successful exit to date had an actualized annual return of 32% net of fees. It raised over $15 million in funding from Winklevoss Capital and Fidelity Investments and became the first online art investment platform to go public through a SPAC in 2020. Obviously when we started a year and a half ago, we were holding them much longer, but theyre moving quickly now. Scott: Yeah, its a $1.5 trillion asset class, roughly $60 billion in art sales every year. The Masterworks platform today has over 250,000 investors signed up, with most looking for another way to diversify their portfolios. Art is historically one of the oldest asset classes, but theres been no way to invest in it unless youre ultrawealthy.

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