Chinese retail investors may be able to dream of Picasso while hanging share certificates on their walls.
A Singapore-based Chinese billionaire investor, who this year acquired stakes in peer-to-peer group Lending Club, Legg Mason, the fund manager and Sotheby’s, has proposed “securitising” the artist’s work to create fractional ownership and tap a wider market in Asia.
Chen Tianqiao and his wife Chrissy Luo, co-founders of investment group Shanda, floated the idea to Sotheby’s chief executive that the auction house could enlarge its base of Chinese buyers by creating shares in artworks.
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