Investment sought for art shares trading platform

An online platform for trading shares in artworks could become a reality if a new company manages to meet its fundraising target.

The site, Maecenas, will allow art owners and investors to pair up without using an intermediary. Singapore-based CEO of the new company, Marcelo Garcia Casil, co-founded the firm with UK business manager Miguel Neumann, formerly of JP Morgan Chase and Switzerland-based art advisor Jerome Croisier. Each asset offered for shares can be listed for up to 49% of its value. The site will charge investors 2% per transaction and owners of artworks will pay 6% of the listed amount to use the service. “We ...