It will allow retail investors to join the high-value art market, purchasing fractional ownership.
The IPO is led by Artex, with shares only available on a specially made art stock exchange.
Shares will be valued at around $100 each and will trade on a newly formed art stock exchange in Liechtenstein.
By splitting a work's cost into more-affordable shares, retail investors can join the market without having to pay millions of dollars.
While other companies have offered fractionalized ownership for artwork before, Artex is the first to take a piece public, allowing shares to be traded more easily.
Persons:
Francis Bacon, Artex, —, George Dyer
Organizations:
Street Journal, Service, Wall Street
Locations:
Liechtenstein