The platform for art investments masterpieces has launched its latest offering for Albert Oehlen’s Untitled (2001), allowing private investors to purchase shares in the painting, valued at nearly $2 million.
Similar works by the artist have been appraised by 22.7%, making this particular painting particularly attractive to investors as the global art market is experiencing record growth.
A previous offer by Masterworks for a painting by Albert Oehlen recently sold offering investors an internal rate of return (IRR) of 33.8%, net of all costs and fees.
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The paintings: The painting, created in 2001, is a large-format example of Oehlen’s groundbreaking “Computer Paintings”, which the artist created between 1992 and 2008.
Oehlen began working on the series in the early 1990s after purchasing his first personal computer. Works from the series combine rudimentary computer imagery with inkjet printing and traditional media such as oil, acrylic, spray paint and screen printing. The “Computer Paintings” are one of Oehlen’s most famous series and were featured prominently in his 2015 solo exhibition at the Neues Museum: “Albert Oehlen: Home and Garden”.
The artist: Albert Oehlen is considered a pioneer of contemporary abstraction and has been one of the leading German artists since the 1980s. Oehlen studied from 1978 to 1980 at the Academy of Fine Arts in Hamburg with Sigmar Polke and Jörg Immendorff.
In a June 2015 article in The New Yorker, noted critic Peter Schjeldahl commented that Oehlen was the “first major artist” to use the visual language of computer graphics in his work.
The investment: Contemporary art is an asset class that has shown resilience through various market cycles, and has achieved a compound annual return of 14.1% from 1995 to 2020, according to data from Masterworks S&P500 delivered a total annual return of 9.9% over the same period.
The competition for valuable works of art is traditionally limited to an elite circle of ultra-wealthy individuals and institutions. However, the global art market is becoming increasingly inclusive as one of the world’s largest art buyers enables individuals to invest in some of the most desirable works on the market.
Masterworks is the first platform to allow non-accredited investors to buy shares in individual works of art. The company buys artworks that are expected to appreciate in value and then offers shares to retail investors.
The company holds the painting until it finds the best time to sell it, which is usually within three to ten years. Investors also have the option to sell their shares on the Masterworks secondary market after a minimum holding period.
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Image: Courtesy of Masterworks
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