Christie's invested in the Australian fintech start-up Art Money

Having moved to Melbourne from the post-Soviet space (there is no difference for me between the post-Soviet countries in terms of the development of the art industry - everyone is at about the same level compared to the Australian industry), I first went to art galleries and museums. Because I had to understand what was going on here. Especially since I was very worried that now accessibility to conditional and unconditional London has become more physical inaccessibility (haha now I'm closer to London than ever).

So, having trampled hundreds of thousands of steps, I realized a few things. Firstly, it is an ambitious goal - to bypass about 150 galleries in Melbourne. Secondly, the art industry is so developed that I can hardly investigate a free niche in service and services in the market now.

What immediately caught the eye was the almost ubiquitous "Art Money" stickers in every gallery. This is AfterPay for buying art. Translated into an affordable post-Soviet language - an interest-free loan for 10 months for artworks between $500 and $100,000. It's that so simple. Just installments that are available at any commercial art institution that anyone with an Australian bank account can get.

In February this year, a press release and an article in the Financial Review were released that Christies had invested a decent amount of money in this startup, and CEO Paul Becker moved to London to develop business at the world level. Recently, a more detailed article about the project was published, which began back in 2015 and already works with more than 1,700 galleries around the world.

I don't know if there are similar services in other countries. But if the largest auction house decided to support this case, the case is rather unique and important.

By the way, Paul is quite open to communication and actively responds on LinkedIn. He is particularly sympathetic to his position that the artist is an entrepreneur. And the motto on his page that he changes the world through the world of art just breaks my heart.

Art Money sticker