Masterworks Reviews 218

I requested information via email. They were able to find my cell phone number and the high pressure harassment started. I said not interested. The guy then repeated his question to me and I disconnected. Right away they continued to contact me via email. I’ve blocked everything and hoping it’s over. I would not invest anything with this company.

Terrible Investment. Total scam. RUN from this company

Stay away. Your investment will be locked up for years and only lose value. They claim to have a secondary market where you can easily sell your shares, but only if you’re willing sell for cents on the dollar. This “investment” is my greatest financial regret.

I have invested $77,500 in 6 paintings. The current estimated value by Masterworks is around $10,000 LESS than this amount. This is a sophisticated company. Also in my opinion an elaborate scam. Investing in art should be a long term plan but I have little confidence I will even make my money back. Not planning to try to sell my shares yet. We shall see how this goes. Do I regret investing this money with them? Absolutely.

Wish I could give these guys a -10 because I have had my money held hostage for about 4 years and made maybe $100 bucks in the beginning and they charge a fee each year and is owned by a pretty sketchy company. My investment is in the negative and I would have had more money from just having a checking account at Chase (do not believe the hype). Here is a good video to watch before investing and look up The Plain Bagel The Problem with Masterworks.

Hope you find a company that is doing good things for the world and is not trying to sell you on something that is WAY too good to be true. Hope I get my money back soon.

Invested $500 in a painting in 2021 that has never sold but is being rented out to various museums. I attempted to sell my shares however no takers. Seemed like a good idea in the beginning but would not recommend unless you are looking for long long long term investment. Then they reached out to say they were changing investment companies with various dates of activation. I don't recommend. Wish I could get out now!

I invested in 4 different suggested artworks about 4 years ago. They have ALL trended down and I am unsuccessfully trying to sell them for a 50% loss. Steer clear of these fools who don't seem to know much about art.

It's a scam. It's one of those scams which is like a really, really dodgy bank in a dodgy country. They skirt legality. Barely. They avoid calls. They take forever to reply. They charge ridiculous fees. 2 Years later and I'm struggling to get what's left out. AVOID.

I don't understand the comments below. People complain about not being able to withdraw their money but also say that the work they bought has not yet been resold. Which is perfectly normal.

It's important to think and inform yourself before putting your money anywhere. It is clearly stated that these are long-term investments. We're betting on the appreciation of these works over time.

I found a good article about Masterworks on the website of Off Market Journal that will give you a real opinion on the platform.

NB. I put two stars hoping they will return my money. otherwise it was one.

The first thing that jumps out at you when you see the positive reviews on this site is that they are all people who have just completed onboarding.

Other people, on the other hand (the wiser ones in here) have already figured out that it's all a hoax. You find yourself putting money on a piece of art, and there and then you are happy, but then you realize that you won't see a penny from 3 to 10 years. and the returns in all this are also low!!! (25% in 10 years, better to invest in an ETF then...).

I hope to see my money again but I don't expect it anymore.

un besito suavesito

IMO this company is a roach motel. Your money goes in but it can't get out. If you buy into a piece of art you only get paid when it sells. You can sell it on their marketplace but good luck with that. If (IF!) you get an offer you will lock in a loss.

I also bought into their fund that trades in artwork and it hasn't done squat. If you try to cash out you get a bunch of gobbledygook.

I have invested in this company five years ago only a couple thousand dollars and have not been able to get ahold of anyone since.

I have recently tried to pull that money from my account and each time keep getting emails from their team stating that the trading platform will be live the next week. That has been happening for three weeks now. At this point I feel like my money is lost and that these paintings are fake and will not be sold.

You will see positive four star and five star reviews, but if you pay attention, none of those people make mention if they made any money or if they were able to pull the money out of their account after they invested.

Please, avoid this company like the plague there are way better investment opportunities out there. This is not it!

Is this firm still in business? I've left voice mails for weeks, with no call-backs.

Do not invest your money here! AWFUL!

I am an active investor, I have stocks, shares, bonds, property, crypto, treasury bills and this is BY FAR the worst performing asset AND you cannot sell when you want to get out.

The website displays error 404 messages, trading platforms do not work and when I enquired I was told it would be working in a few WEEKS. So I could not liquidate assets I wanted to put into other investments in time.

They consistently talk about a minimum of 3 years to see returns, I started in 2021 and my whole portfolio is significantly down.

When they do sell they charge very high fees as listed below which significantly impact any possible returns.

Customer service is horrendous. When I raised that parts of their website were not working and I wasn’t impressed with losing money after 4 years of investing and a very unsympathetic “I’m sorry you feel that way” was chanted back to me.

Feel completely inconsequential as a customer, do not feel valued in any way, they made no attempt to try to resolve their website issues, no apology, no compensation. Just awful all round.

Annual Management Fee: A 1.5% fee is charged annually, covering costs such as storage, insurance, and administrative expenses. 
• Profit Sharing: Upon the sale of an artwork, Masterworks retains 20% of the profits. 
• Upfront Payment Fee: An 11% fee on your initial investment is applied. 
• Commission Fee on Sale: When an artwork is sold, a commission fee ranging from 14.5% to 26% is charged, depending on the sales method.

I received a call from a salesperson from Masterworks today saying something about having sent me an invitation and he was following up.
He asked for me by my first name and sounded so friendly and casual that I had to ask 3 time who he was and why he was calling because I couldn't figure out if I knew him or the company or had requested something. The experience came out of nowhere. He said I was identified as someone that would be a good candidate for investing van gogh and whoever else.
He then texted me a link to their website.
I ran call centers for the arts for 30 years and this guy was so smooth that it took me a while to figure out what was going on.
I told him I wasn't interested.
Their phone approach is beyond sketchy - stay away from them.....

I cannot delete my account. The ‘Delete Account’ option in the app doesn’t work. I reached out to them about this problem, but they haven’t replied to my email.

Apparently, this company has aligned itself with the pro-fascist right extremists. I received this communication from them today:

"With the Trump tax plan set to expire at the end of 2025, some experts are recommending that investors take advantage of this before the end of 2024, due to the ability for the law to be repealed back to Jan 1, 2024 depending on who wins the election and who controls congress."

It's very simple. Either you stand for human rights and defend innocent people against genocide, or you align yourself with those that do not. Masterworks clearly stands on the wrong side of history.

Avoid this group at all costs.

I have tried to unsubscribe 3 times and told them twice on the phone to delete my account. I never even finished signing up but they won't stop bothering me. No unsubscribe link on the emails or website

While al my stock investments are more than inline with historical trajectory. Investing in single art pieces seems like russian roulette.
My investements (7 different paintings gs) are down over 30% over the last 4 years.
There are good reasons why retail customers should not invest in crowdfunding and also not art investments as this scam. Masterworks wins everytime - if you lose or win (they win more if you wib but doesnt matter over all).

So my boyfriend received this so-called phone review to streamline if he was “qualified” enough to invest in this company that is supposedly saying they have certificates from the master artists of Van Gogh and Picasso…. THESE LIARS NEED TO STOP.
I hope this hedge fund that someone’s entitled and pretentious rich son gets busted taking peoples money. How do you have a piece of art that you never see the original and you never will touch but you own a piece. I can’t wait until the FBI investigates this group.