Masterworks, the alternative investment platform for purchasing shares of fine art, has introduced a couple of new features this month. Both of these are small, but helpful additions for investors.
The first new addition relates to how cash on the platform is handled. While it is possible to fund investments in IPOs directly, investments on the secondary market require you to have funds held in your account. Likewise, sales of art assets would also result in money being held in your Masterworks account. Now, this will all be held in a Cash account.
Visible under the “Cash” section of the website, the account is provided through Synapse and Evolve, with the latter being the banking affiliate. This is a nice boon for investors active on the platform. As you may be able to see from the photo above, the cash account is yield bearing, with a fairly competitive 4.1% APY.
The second change rolled out yesterday.
There are new updates to the portfolio page. Instead of just showing a pie chart and table of your holdings, there’s new useful information.
First, we can see a table breaking down the summary of our all time results. This interestingly includes a section for both appraised investments and non-appraised investments’ performance. This may just be to emphasize that there are assets in the account which have not been reappraised.
Additionally, we can see a new graph of the account value over time. That graph highlights when comparable sales for one of your holdings has occurred, as well as any exits of your art assets.
Overall, these are nice, if not major changes. For investors that like to be active in the secondary market, this is an exciting change. You no longer have to give up yield on your cash while you have limit orders in place to scoop up shares.