Masterworks Reviews

My account says 0 00 Don t send the rating request until my money shows up in the account

Made a money transfer however they never appeared in portfolio nor I got response from any of their emails

I made an account on their website to see what they had to offer I checked it out and decided it wasn t for me This was in early 2023 Ever since then I have been getting spammed with news and offers from them At first I just ignored it When I noticed how much they were spamming my inbox I went ahead and clicked unsubscribe The spam continued I did it again on every new e-mail until I ve had enough and logged in on their website only to find dozens DOZENS of individual toggles for all kinds of e-mail I could receive And no master toggle to turn them all off No biggie - only 3 minutes of clicking toggles later it was all done All were off A week later and I m still getting e-mails At this point I write them to please delete my account and data as per GDPR The response was professional only stating that they ve done what I asked Kudos Now it has only been another week and I STILL get e-mails from masterworks io Enough I m adding them to the block-list I should have blocked them the first time I got frustrated But I trusted that unsubscribe was honest I trusted that the toggles in settings were honest I trusted that their promise to delete all my data was honest They were not Each time they ve strung me along like an idiot I m leaving this review to warn others - if you make an account on their website add them to your email s block-list and avoid the whole frustrating experience

I regretted expressing interest and asking for information on Masterworks as they have absolutely no respect for customer privacy I have made multiple requests for them to stop sending me marketing but they ignore those requests and continue to send it anyway literally YEARS after first contacting them If it is your goal to be aggressively hassled by a company that tramples your privacy and treats your private information like a commodity MASTERWORKS is exactly the place to have that experience

Masterworks io lets you invest in fractions of blue-chips artists painters artworks In order to join the platform you need to have a phone interview with a representative not sure why some people online say that they try to push you to invest right away Anyway the representative did not call at the scheduled time and did not reply to my email sent a week earlier after he asked if I had any questions These were my questions in case they are useful to others - Who is funding Masterwork to buy the the paintings upfront - After some research the business model does not seem very profitable for investors Please correct me if I am wrong The lockup period before the sale of the painting is expected to be 5-10 years each year there is 1 5 fee and no returns Even with a 15 appreciation after taxes and other sale-related cost after 20 cut of Masterworks the final return for investors may as well be close to zero UPDATED From 2 to 1 star because even if I have unsubscribed from email communications they keep spamming

Fees 1 5 -large frontloaded fees yearly asset under management fees and a hefty performance fee The artwork would have to make staggering gains for you to even break even Diversification 2 5 - They don t offer a fund of artworks They sell stakes in individual artworks and get you to invest the maximum amount possible given your income into a single artwork Liquidity 1 5 - Secondary market is a way to hot potato your stake onto the next ponzi participant Only actual payoff will come from sale Sales can take a decade and is at the discretion of Masterworks Masterworks are incentivised to delay as long as possible since the yearly management fees will allow them to gradually control more of your stake capturing even more of the actual art appreciation Taxes 3 5 - capital gains on collectibles can be larger than capital gains on stocks depending on your jurisdiction not that Masterworks will tell you Sales tactics and marketing 1 5 - Cherrypicked data displayed on site the too good to be true art appreciation is genuinely too good to be true they only show you artworks that are successfully sold meaning all of the failed investments are left out art is slow moving sellers aren t in a rush to sell below their buy price They try to get you to invest on your first call and immediately proceed under the assumption that you re looking to invest your entire income What s 5000 investment when compared to your yearly income of 80000 etc They make you prove that you are a serious investor by testing your knowledge with simple qs designed to stroke your ego and make you think you re a sophisticated investor ready to plunge all your discretionary income into a high risk low liquidity market If you say no to investing they will put pressure on you and make you feel fear of missing out and if you say no again you will get a callback to let you know that the sales rep has talked to their manager and they can do you a special deal for a few times less investment as they previously assured you was the absolute minimum they will now allow you to invest same fees ofc

It s been more than a year since I ve started to use their services and they haven t kept a single promise to me starting to think that this is a scam When their sales team called me they pushed me to invest really hard I hesitated so they offered me a deal to test the platform out with a small amount of money and made some promises regarding the platform I was promised that they will make secondary market available outside the US in couple of months and I will be able to sell my investment there if I am not satisfied However it s been over a year now and I still cannot use the secondary market or even browse it to see the price of similar offerings as my artwork They promised to evaluate the artwork every quarter after 6 months of closing the deal They haven t done that when I asked them they told me that at very least my artwork will be re-evaluated after 12 month which again they haven t All I see now is a bunch of frozen money with no increase in value and no way to cash it out I wouldn t trust them an extra penny more and will exit the platform the first chance I got if my money is not long gone already Also they spam a lot event after declining the promotional material over the website I had to write them several times so they would stop sending promotional messages over email and my phone

Per se I have no problem with their product But I asked them already at least 5 times to stop calling me and stop email me but they still continue They also send emails from different names to make sure you can t block them This is not serious business practice

Absolutely horrible experience LIES to get you to invest with them LOSING money and what they promised did not come through FINALLY no response to their emails Once you invest in them you CANNOT get your money back ABSOLUTE SHITSHOW

They won t leave me alone Constant pestering I asked to be deleted unsubscribed but they ll just email you from a different email account so even if you mark as junk it ll hit your inbox as it s from a new account SCAMMY