“Currently, galleries and private collectors compete for known and already cataloged works of art. However, many lost pieces are out of the market and others locked in collections without liquidity. This is where ChaseArt will position itself,” explains co-founder and CEO José Nicomedes.
NEW YORK (PRWEB) October 07, 2020
The new company—ChaseArt—spun out of a network of experienced and global executives to democratize the fine arts market in the world, bring liquidity to unique pieces and make investments in the sector more accessible to all investors fond of arts.
The entrepreneurs, from the food, wine, sports and technology sectors, will join forces with a group of world renowned art experts, and will "treasure hunt" exclusive works of art with great potential for appreciation and insert them back into a market that reached $64.1 billion in sales, in 2019.
Based in New York, ChaseArt's main target is to seek, recover and fraction undervalued artwork for investment, in addition to revealing unknown talents and bringing liquidity to artworks.
The art experts will contribute to a better scientific knowledge about the works of art, leading ChaseArt to the most respected conservation studios, scientific laboratories and art historical research centers, to guide the necessary steps for the pursuit of certification or authentication studies.
"Our focus is to ally ourselves with exponents of the art world, just as we did in the world of wine, insurance and soccer, and take advantage of opportunities that are not currently explored by players in this field," said lawyer Jose Rozinei da Silva, ChaseArt’s investor and co-founder. “We intend to use the knowledge to support the startup business plan that intends to fill a gap in the arts market.”
According to ChaseArt’s founders, there are thousands of artworks lost in time, some after civil conflicts, others due to negligence or lack of knowledge of their value.
"Many owners have no idea of the value of their paintings, their authenticity or even their origin," said da Silva. "These pieces need to be evaluated by scholars and, in some cases, restored by skilled and highly qualified conservation specialists, which requires financial resources and a lot of historical, scientific, and technical knowledge. ChaseArt arrives to offer solutions and resources to this public."
Chase Art has created a business process to prospect and discover these unique works of art. Once these pieces are identified, experts tailor a detailed business plan aiming to obtain maximum appreciation and liquidity.
The next step is the process of fractioning the assets, to later sell them to investors looking to diversify their portfolios. This fractioning process is known as “tokenization,” which makes fractional ownership possible, empowering collectors, dealers, investors, and artists.
“Currently, galleries and private collectors compete for known and already cataloged works of art. However, many lost pieces are out of the market and others locked in collections without liquidity. This is where ChaseArt will position itself,” explains co-founder and CEO José Nicomedes, who led extensive global operations and is now devoting his energy to his passion for art.
Despite being a startup, ChaseArt is quickly gaining traction with an important collection to commercialize. Its first project is The Woodman, a remarkable work of art, which has very close ties to a world famous painting by the renowned 18th-century British painter, Thomas Gainsborough.
The oil painting, owned by ChaseArt, is an extraordinary and legitimate eighteenth century "woodman". Archival evidence indicates compositional similarities to Thomas Gainsbourough's now lost painting, The Woodman (1787-1788), clearly perceived by comparison to Peter Simon's famed engraving.
In order to retrieve the true light and colours of the painted composition, the work of art is currently housed in an prestigious art institute in London, England, where it is being put under rigorous scientific and technical examinations, followed by conservation treatment. These studies may reveal the possible rediscovery of one of the most important English artworks of the 18th century, eliciting great return for investors.
In addition to The Woodman, ChaseArt was hired to work and sell a collection of more than 200 pieces of art from the Chokwe Culture, of African origin.
"The Chokwe culture has suffered political persecution for decades and much of its artistic expression has been destroyed. Currently, there is a movement to rescue and preserve the works of art from the Chokwe Culture, whose quality and artistic importance is indisputable," added Nicomedes.
New art pieces and collections are already in the company’s pipeline, said ChaseArt’s founders. The hunt has just begun.