Seeing a work by Francis Bacon is an aesthetic shock for many people, and rightly so. He is undoubtedly one of the greatest painters of the 20th century, and to have the privilege of coming face to face with one of his works is a unique moment. Since 1 July, visitors to the Nationalmusée um Fëschmaart have been able to enjoy just such an experience by discovering the triptych “Three Studies for Portrait of George Dyer (1963).” This work is on loan to the museum for two years, and is presented as part of the permanent exhibition “Collections/Revelations” dedicated to portraits.

But behind this work lies another piece of information: it is the first work of art to be listed on Artex Global Markets, a stock exchange that aims to democratise investment in art. This is a completely new private-public partnership. “This loan enables works that would not otherwise be accessible to the general public to be shown at zero cost to the taxpayer,” points out , director of the Musée national d’archéologie, d’histoire et d’art (MNAHA).

One work, several shareholders

The work is owned by Art Share 002, a company made up of a number of shareholders who each own a part of the work. This initiative was launched by Artex Global Markets, which acts as a facilitator between the initial owner of the work and future shareholders. Shareholders can acquire a fraction of the work and diversify their investment portfolio.

Artex Global Markets was founded four years ago by Prince Wenceslas of Liechtenstein (chairman of Artex Global Markets) and Yassir Benjelloun-Touimi (CEO of Artex Global Markets). It is regulated and supervised by the Liechtenstein Financial Markets Authority, within the European Mifid II legislative framework. Its aim is to make accessible to the public a broad spectrum of works, ranging from the Renaissance to contemporary art, which were previously held mainly by private collectors. Through loans to museums, these works are being made accessible to as many people as possible.

What’s more, ownership of these works is also becoming accessible to art investors of all levels, since the entry ticket is just $100. These investors are grouped together in a limited company that owns the work. In the case of Bacon’s artwork, the company, called Art Share 002, is based in Luxembourg and exists as a securitisation body. It is run by Ursula Schmidt, Édouard de Burlet and Ronan Le Bouc. Art Share 002 works with Artex Services, which offers all services related to the management of the work, such as conservation, administrative tasks related to the work and advice.

This article was first published in French on . It has been translated and edited for Delano.