2 September, 2020
According to the Hiscox Online Art Report 2019, an increase in millennials (aged 35 and below) had bought art in the last 12 months and 79% said they had bought art more than once (up from 64% the previous year). In addition, 46% of millennial art buyers surveyed said that they would consider fractional ownership of art as a form of investment, whereas 51% of younger art buyers (aged under 30) expressed interest. New buyers (defined as having collected art for three years or less) also showed appetite for this art investment model. This begs the question: Could fractional ownership encourage and act as a gateway for a new wave of younger buyers to invest in the art market? And, if so, does it make for a profitable investment option?