The Artist Pension Trust, a unique closed-end art fund in which artists invest in their own work, is about to sell art at auction for the first time in its 13-year history, according to an article on Friday in the Financial Times. The then CEO of APT, Pamela Auchincloss, said that some artists were already becoming impatient to start receiving payments back then. In fact, APT did not sell any works for another three years, and only then through private sales. In Friday’s FT, Brenner said that APT made $425,085 in private sales in New York and Los Angeles last year. …APT might, for example, sell the works through the selective use of private treaty sales or secondary market dealers and will first target institutions and large collectors.”

Source: Forbes February 05, 2017 18:29 UTC