Leslie Chow, CFO of Takung Art Co., Inc., on Affordable Art Ownership
Chow says Takung Art is revolutionizing the artwork market by making fine art investing more affordable for the average person.
Traditionally, the fine arts market is very exclusive. Only people with substantial financial resources could participate. However, by breaking down pieces of artwork into fractional ownerships, it’s possible for middle-class people to invest in the art sector.
Takung Art has developed a platform that has now over a hundred thousand traders, and they hope to develop it into a million.
A One-to-One Platform for Arts Consumers
Right now, the traders on the platform are from China. The company intends to keep the focus there, because the Chinese middle-class population will probably increase to 550 million people by 2022.
Takung Art is creating an ecosystem to integrate the Takung Units Platform and Takung Online. As a result, they will have a one-to-one platform for arts consumers to buy and sell art in a secure and easy way.
The company is in the process of researching to do business in the U.S. and Canada. Currently, they are listed on the NYSE Exchange.
Beyond Art Galleries and Action Houses
Based in Hong Kong, Takung Art provides collectors and investors with the opportunity to acquire shared ownership of fine arts. They allow investors to participate in the booming international art market without fear of price manipulation or forgery.
This novel platform expands the number of interactions between sellers and buyers. As a result, users can acquire paintings, calligraphies, jewelry and precious gems beyond art galleries and auction houses.
An E-commerce Platform for Fine Arts
The ability to trade these valuable assets on Takung’s online trading platform has attracted a significant number of fine art investors.
By providing this unique service, Takunga Art Company earns multiple streams of revenue. These include listing fees, trading commissions, management fees and authorized agent fees.
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