Leslie Chow, CFO of Takung Art Company Ltd., speaks on the company’s platform that makes art investment affordable for the average person.
Takung Art Company wants to revolutionize the art work market. We want to make fine arts more affordable for the average person to invest in. Usually in the traditional fine art market you need to fork out millions of dollars to buy a piece of fine art that will appreciate in value throughout a period of time. What we do is break down pieces of artwork into fractional ownerships that makes it more affordable for middle-class people to invest into this investment class Takung Art Company currently has over a hundred thousand traders on our platform and we would like to develop into 1 million. Right now the traders on our platform are mainly from China, we are focusing on the fact that the Chinese middle class population will increase to five hundred and fifty million people in 2020. And we are creating an ecosystem that includes the Takung Units platform that we currently have and we added another platform which is called Takung Online which is an e-commerce platform, a one-to-one platform for arts consumers to buy and sell art. We are in the process of researching to do business in US and Canada. We are listed on the NYSE exchange, which give us a lot of credibility to the participants on our platform.
Based in Hong Kong, Takung Art Company Ltd. provides a secure and easy way for art collectors and investors to acquire shared ownership in Asian and other fine art – including paintings, calligraphies, jewelry and precious gems – and participate in the booming international art market without fear of price manipulation and forgery.
The ability to trade these valuable assets on Takung’s proprietary online trading platform has attracted a significant number of fine art investors – including many ordinary people without substantial financial resources. This novel platform significantly expands the number of interactions between sellers and buyers of fine art far beyond those generated by art galleries and auction houses alone.
For providing this unique service, Takung Art Company earns multiple streams of revenue, including listing fees, trading commissions, management fees and authorized agent fees.
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