Andy Warhol

Andy Warhol (1928-1987) is one of the world’s most recognised artists. Known as the godfather of the Pop Art movement, his pioneering works elevated consumer and celebrity culture into the realm of fine art.

Investing in Andy Warhol

Warhol’s legacy continues to be felt in contemporary culture and the art market, where he remains one of investors’ favourite artists to invest in.

The Pinnacle of the Post-War & Contemporary Art Market

In May 2022, Andy Warhol broke the record for the most expensive work of art sold at auction by a Post-War or Contemporary artists when his Shot Sage Blue Marilyn, 1964, sold for $195 million at Christie’s New York. It cemented his place at the pinnacle of the art market, continuing a trajectory that has seen the value of his work consistently outperform leading financial markets, including the S&P 500, over the past two decades.

Described as “the bellwether of the art market” by The Economist in 2009, Andy Warhol is often seen as an indicator of the wider strength of the art market and consequently, one of the most popular art investments. But what of his art?

Andy Warhol: the Artist

Born in Pittsburgh in 1928, Warhol trained as an illustrator and graphic designer. This background led him to explore silkscreen printing as a means of artistic production in 1962, a controversial decision due to its associations with commercial arts and advertising. Warhol’s silkscreen paintings explore the relationship between advertising, celebrity culture and artistic expression, and his works, such as Campbell Soup Cans and Marilyns, are amongst the most iconic images ever produced.

Throughout his career, Warhol embraced his own celebrity status, embodied by his bright white wig and legendary studio, the Factory, and coupled it with boundless experimentation in his paintings, prints, drawings, photographs and films. His talent for melding everyday objects, one-of-a-kind celebrities, and artistic expression to create colourful art that appealed to the masses, has left a legacy that has continued to grow following his untimely death at 58. “I am a mass communicator,” Warhol once told an interviewer. His work still speaks volumes to this day.

Andy Warhol: his Market

Like any investment, Warhol’s market has not been a straight upward line. However, much like art as an investment more generally, Warhol’s market has shown a low correlation with the stock market and high liquidity – as measured in terms of sales volume – compared to other artists; two factors that characterise useful alternative investments. Since 2012, over 1200 works by Warhol have been sold annually with totals exceeding $100 million and reaching as high as $520 million.

The value of Warhol’s work really began to take off in the mid-2000s. The Wall Street collectors, whose purchasing habits were helping drive the growth of the wider art market, identified with Warhol’s imagery and began to invest in Warhol. Subsequently, Warhol’s market grew, and in 2007, Warhol’s annual auction sales first peaked at $434 million1, with the broader auction market peaking at $32.9 billion2. Seven years later in 2014, the Warhol auction market reached a new high of $603 million3 against a broader auction market of $32.7 billion4. Warhol was the eminent market artist.

Between 2016 and 2020 there was a re-alignment as Warhol’s dominance in the art market was shared across other leading Post-War and Contemporary artists – think Jean-Michel Basquiat, Mark Rothko, Gerhard Richter – leading to a healthier, and more diverse art market. Collectors hadn’t stopped investing in Warhol though, he continued to sell over 1,200 lots per year at auction, simply the supply of truly top works had slowed.

This was confirmed by two factors—continuing high average prices and very strong prices in the market for Warhol prints—both of which showed that Warhol market was still buoyant, collectors were still looking to invest in Warhol, and most of all showed that any constraints on the Warhol market come from the supply side.

The recent record sale of Shot Sage Blue Marilyn only serves to illustrate this: a new world-record that emphasised Warhol’s position as not only an art market stalwart but one of the world’s most important artists.

Interested in investing in Warhol?

Mintus is delighted to offer an original Warhol painting as an art investment offering on its platform. Sign up and create a free account here to view our Warhol.

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Footnotes
  1. LiveArt, ‘Warhol’s Marilyn and the Art Market’, April 2022
  2. UBS & Art Basel Art Market Report 2017
  3. LiveArt, ‘Warhol’s Marilyn and the Art Market’, April 2022
  4. UBS & Art Basel Art Market Report 2017

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Can I list my artwork for sale on Mintus?

We welcome any owner who wants to unlock liquidity from their collections to contact our Fine Art Team. This includes individual investors, galleries, institutions, and artists. Please reach out if you're interested in listing your artwork on the Mintus platform.

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All artwork offered by Mintus is stored in climate-controlled, specialist art storage facilities, under a Mintus account. Current paintings are held in a facility in Delaware.

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Artwork is acquired through our unique relationships with the world’s most renowned collectors and galleries. Our Fine Art Team marries their own expertise with insights from fellow industry experts to identify one-of-a-kind investment opportunities from established artists with high-growth potential. Our team examines metrics such as the artist’s market track record, recent price velocity and momentum, and the size of their international collector base when making investment decisions.

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What are the risks of investing?

For more information on risks, see the Memorandum for the relevant artwork and the important disclosures.

Does Mintus sell NFTs?

Mintus does not sell NFTs. NFTs are digital assets. Mintus enables qualifying investors to participate in the art market by purchasing interests in high value, physical artworks. Mintus’ platform facilitates investment in real, iconic artworks created by established artists.

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Can I sell my shares?

Mintus is planning to in the future introduce a Secondary Market for investors in permitted locations, which will facilitate selling of shares to buyers, dependant on demand. Further details, including the timing relating to launching any such Secondary Market, will be notified to customers in due course.

Why do I need to be a ‘high net worth individual’, ‘sophisticated investor’, or 'qualified investor' to join the Mintus platform?

According to the regulations, certain investments can only be made available to investors who fall within these categories and Mintus must also follow appropriateness requirements when registering investors.

What does Mintus charge?

Fees are dependent on the specific artwork and the specific structure of the investment opportunity. Fees are clearly shown in advance for each artwork / investment opportunity, as displayed in the Memorandum that relates to the artwork / investment opportunity; this document is available to download from the profile of each artwork under the Opportunities section.

Is Mintus only for individual investors? Is it appropriate for wealth managers or private banks?

Both individual investors and institutions can invest in artworks. Individual investors will need to declare themselves to be ‘high net worth individuals’, ‘sophisticated investors’ or 'qualified investors' during the account creation process. Individual investors will also need to pass an appropriateness assessment. Professional investors including wealth managers, private banks and family offices should contact our team for more information on investing as an entity or managing multiple client accounts on the platform.

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For the opportunities listed, a minimum investment of $3,000 is required however investments can be for any amount above this and generally range from $15,000 to $100,000. International payments are accepted.

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Funds can be sent from any denomination into our USD bank account. We will show you the estimated cost in your chosen currency during the investment process, however, this may change at the point of transfer and does not account for fees charged by your bank. When transferring, your bank may show an estimated conversion; alternatively, the funds can be sent in your local currency and converted at the point of receipt. Other transfer services such as Wise display exact fee and currency conversion rates to ensure you're sending the subscribed amount.

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How will I be taxed once shares are sold or returns distributed?

Mintus does not provide tax advice. We recommend that investors obtain their own tax advice as every person has specific tax circumstances. Generally, income and profits generated from your investment can be subject to either income tax or capital gains tax (depending on the individual investor and the specific structure of the investment). Artworks are not income-generating during the period they’re held. If you are unsure about your tax or other legal requirements, please speak to a professional advisor.

Can I port my investment between Mintus’ artworks?

Not directly. In order to take an investment from one artwork to another, shares would need to be sold to a willing buyer on the future Mintus Secondary Market and then proceeds reinvested on the platform. The Secondary Market will only be available in permitted locations.

When can I expect to receive the valuation reports?

Typically, valuations occur at the end of June and December, with reports distributed to investors as soon as possible thereafter.

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All actions in relation to the asset are at the discretion of Mintus. Mintus will communicate with investors on a six-monthly basis with an update on the net asset value, and any further news will be communicated on an ad-hoc basis.

How soon are profits received by investors after the sale of the artwork?

Distributable profits will be made available to investors as soon as possible, once all sale-related administration is complete.

Am I able to reinvest profits from sales with Mintus?

Profits will be received into your Mintus wallet, with the option to withdraw the profits into a bank account or reinvest on the Mintus platform.

Mintus Trading Limited is authorised and regulated by the Financial Conduct Authority (FRN 942522).

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