Art Valuation

Valuing art to invest in is a complex process that takes into account multiple factors.

Art Sourcing

Some are intrinsic to the artwork, like its physical characteristics and ownership history, whilst others are external, such as wider market movements. At Mintus, we have a two-stage valuation process: internal valuations are conducted by in-house expertise on our art investment offerings, which are then verified by industry-leading third parties.

What are the key factors that affect an artwork’s value?

Authenticity:  First and foremost, is the artwork authentic? Find out how Mintus authenticates artworks here.
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Rarity:  Like all markets, the value of art is tied to the first law of economics – supply and demand. A rare work that’s in demand is highly valuable.‍ 
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Condition:  Works that are in the closest possible condition to its original state are the most highly prized. A work that has been damaged or had conservation work will suffer in value. 
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Provenance:  This is the sales history. If the work was owned by a particularly important collector, then it will be far more desirable. For instance, this could include a ‘celebrity’ figure, such as David Bowie, or individuals with celebrated collections, such as Peggy and David Rockefeller. 
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Historical Importance:  A work from a particularly significant period of the artist’s life, or connected to a wider historical context, is more valuable. 
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Medium:  The artwork’s materials make a difference. As a general rule in paintings, oils will be more valuable than watercolours, which are in turn more valuable than pencil or charcoal drawings, which are more valuable than prints. 
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Size: Traditionally, extremes can devalue an artwork. Too big or too small can create problems on a practical level. 
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Subject Matter:  An iconic or immediately recognisable subject associated with the artist will be more desirable and consequently valuable, such as Warhol’s Marilyn. Conversely, a particularly challenging subject, such as one containing extreme violence for instance, is generally far less likely to appeal to collectors. 
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Quality:  This is the most subjective of all the factors – namely does the work have that certain je ne sais quoi that gives it an irresistibility.

How do we value our art investments?

At Mintus, we take all of the above factors into consideration, alongside the comparable performance at auction to determine the value of our offerings. Recent sales of artworks, either from the same series, or of a similar size, date of creation, medium (material), appearance and subject are used to determine an appropriate valuation internally, with the guidance of our art advisors.

How does valuation fit into our art investment process?

When presented with a potential art investment opportunity, we conduct an in-house valuation of the artwork that is overseen by our Art Investment Committee. A potential purchase price is then agreed internally, which we feel represents good value.

In order to verify the purchase price, we commission up to three independent valuations from third-party industry experts, each done in isolation. The aim is to make sure that the independent valuation, or average of the valuations, is between 15-20% above the purchase price.

How often do we value our art investments once we have invested?

We value our offerings at least every twelve months.

Which third parties does Mintus work with?

There are three industry-established firms that we use to get our periodic artwork appraisals:

Gurr Johns

Established in 1914, Gurr Johns has been conducting independent specialist valuations and advising international clients on their art collections for over a century, building a reputation on the values of connoisseurship, discretion, and commercial transparency.

With offices in London, New York, Chicago, Los Angeles, Delhi, and Hong Kong, Gurr Johns has a global team of over 160 specialists with expertise across all asset classes. Gurr Johns specialists value $10 billion in assets annually.

Appraisal Bureau

Appraisal Bureau is a third-party neutral valuation and data firm. It offers valuations on Digital Assets and Fine Art exclusively, using its proprietary technology-led platform alongside market insights to deliver its appraisals. Annually they value over $1b in Fine Art, whilst their proprietary NFT Valuation Methodology is trusted by major international insurance markets and financial services firms.

All Appraisal Bureau appraisers hold the highest credentials in the industry as members of the Appraisers Association of America. All their appraisals are compliant with the Uniform Standards of Professional Appraisal Practice (USPAP) and the Internal Revenue Service (IRS).

Kendris

Kendris is a Switzerland-based company that provides family office, trust and fiduciary services, Swiss and international tax and legal advice, accounting, outsourcing, aviation advisory and art management.

Working with institutional, corporate, and private clients, Kendris provides comprehensive art management services for individuals and companies that have art as part of their investment portfolio.

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Frequently Asked Questions

We answer some of your common questions here.

Overview
Becoming an Investor
Being an Investor
The Artwork
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.

How is the art stored?

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.

How is the artwork on Mintus selected?

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.

General
How can I contact Mintus or make a complaint?

If you need support you can send an email to [email protected] or schedule a call using the links on each page of our website. If you need to make a complaint you can write to [email protected]. A description of our complaints policy is set out in the Investment Terms & Conditions for each investment.

Is Mintus authorised by the FCA?

Mintus Trading Limited is authorised and regulated by the Financial Conduct Authority in the United Kingdom under firm reference number 942522. For more details on our regulatory permissions please see the Financial Services Register.

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.

General
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.

Is there a minimum investment on the platform?

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.

How do I transfer my funds to a USD account?

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.

General
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.

How are actions surrounding artworks communicated to investors?

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).

Mintus.com is operated by Mintus Trading Limited, a company incorporated in England and Wales (Registration number 12643726).

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