Market Overview

Startup brings together technology, food and wine entrepreneurs with prestigious art experts, to uncover distressed treasures


ChaseArt is a fin-tech startup that aims to democratize the global fine arts market, bring liquidity and make investments in the sector more accessible. The company seeks to recover and fraction undervalued artwork for investment, in addition to revealing unknown talents and bringing liquidity to art galleries, collectors, and museums.

NEW YORK (PRWEB) October 07, 2020

Founded by a group of experienced investors and global executives, the new company ChaseArt aims to democratize the global fine arts market, bring liquidity and make investments in the sector more accessible.

Through a network of experienced investors—from the food, wine, sports and technology sectors—and a team of world renowned art experts, the company will "treasure hunt" unique 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 purpose is to seek, recover and fraction undervalued artwork for investment, in addition to revealing unknown talents, boosting the art market. Emeritus Professor of Inorganic Chemistry at the University of Perugia, Antonio Sgamellotti, is part of the sourcing and evaluation team.

With about 350 scientific works published on chemistry restoration techniques, conservation and authenticity of works of art and historical artifacts, Sgamellotti together with ChaseArt's founders will collaborate with international art research institutes, using their most modern technology.

"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.

"The works of art lost due to wars, ethnic conflicts or even oversight will be the focus of ChaseArt. We intend to use the knowledge we acquired from other projects in the luxury, technology and marketing sectors, to support the startup business plan that intends to fill a gap in the arts market," said da Silva.

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 specialists and, in some cases, restored by technicians, which requires financial resources and a lot of 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, believed to be by the famous 18th-century British painter, Thomas Gainsborough, the creator of the iconic The Blue Boy.

The Woodman was thought to be lost and is in the process of certifying authorship at The Courtauld Institute of Art, the world's leading center for the study of the history and conservation of art and architecture. If the authorship is confirmed, it will be considered a masterpiece with a market value comparable to that of the great masters.

"In addition to The Woodman, we were hired to work and sell a collection of more than 200 pieces of art from the Chokwe Culture, of African origin," added Nicomedes. "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."

New art pieces and collections are already in the company's pipeline, said ChaseArt's founders. The hunt has just begun.

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