Fine art investment company ArteQuesta has introduced guarantees for its clients. Investors will be able to purchase artworks for a specified amount of time, with the guarantee that ArteQuesta will buy back the artwork on a specific date with a guaranteed return on investment for the customer.
“Guarantees have been offered at auction houses to entice sellers to bring their artworks to auction,” said ArteQuesta’s founder Rayah Levy.
“As the steady growth of the art market continues, guarantees on the primary market help sellers to offer their works directly to buyers with a manager, helping to save time and cost. We decided to partner with investors to offer guarantees to allow us access to artworks that could support our clients fine art portfolios, and give them access to artworks that typically would be out of the price range of the middle market.”
She added that she expects the use of guarantees to increase involvement in the global art market.
“Having the opportunity to offer guarantees on some artworks feels like a strong step towards helping the middle market participate in the global art market,” she said.