A triptych by British artist Francis Bacon is set to make history as the first artwork to be quoted on a new exchange dedicated to trading works of art, which officially opened its doors on March 8.
Artex, co-founded by Prince Wenceslas of Liechtenstein, obtained a license in January 2023 in Liechtenstein to operate what it proudly calls “the world’s first art stock exchange platform.”
Under this innovative framework, each quoted work will be owned by a Luxembourg registered company, and shares in these companies will be made available for trading on Artex.
The inaugural artwork to be quoted on the exchange is “Three Studies for George Dyer,” which will be represented by Art Share 002 SA. The initial price for each share is set at 92.20 euros, valuing the entire piece at a staggering 50.7 million euros ($55 million), according to Artex.
Yassir Benjelloun-Touimi, co-founder and chief executive of Artex, expressed excitement about this milestone, stating, “This admission marks the first-ever listed masterpiece, and we are eager to introduce other masterpieces we have in the pipeline.”
Painted by Bacon in 1963, “Three Studies for George Dyer” presents three distinct views of his muse, George Dyer, captured several months after their initial encounter. Each panel measures 35.5 centimeters by 35.5 centimeters, showcasing Bacon’s unique and evocative style.
