Bacon work marks debut on innovative trading platform

VADUZ

A triptyque by British artist Francis Bacon will be the first artwork to be quoted on a new exchange allowing the trading of works of art that opened on March 8.

Artex, co-founded by Prince Wenceslas of Liechtenstein, received a license in January 2023 in Liechtenstein to operate what it calls "the world's first art stock exchange platform."

Each quoted work will be owned by a Luxembourg registered company and shares in these companies will be traded on Artex.

"Three Studies for George Dyer" will be quoted via Art Share 002 SA, with the price of each share initially set at 92.20 euros, valuing the piece at 50.7 million euros ($55 million), according to Artex.

"This admission is the first ever listed masterpiece, and we are now excited to bring other masterpieces we have in the pipeline," said Yassir Benjelloun-Touimi, Artex co-founder and chief executive.

The work by Bacon, painted in 1963, displays three views of one of his muse George Dyer, several months after they met. Each one measures 35.5 centimetres by 35.5cm.