You're listening to TIP.

You're listening to the Investors Podcast.

Where we study the financial markets and read the books that influence self-made billionaires the most.

We keep you informed and prepared for the unexpected.

Hey everyone, welcome to the Investors Podcast. I'm your host Preston Pish and as usual I'm accompanied by my cohost, Stig Broderson.

All right guys, we are super excited to be here with Scott Lenn and Scott thank you so much for taking the time to chat with us today.

Thanks, Stig.

So Scott, we've covered many types of investments here on the Investors Podcast but art is clearly a new frontier for all of our listeners.

I personally know so little about this topic and I find it quite fascinating.

So talk to us about how you got started in this sector of investing. I am super pumped to hear how you respond to this.

I think like many collectors I first started collecting art really out of passion.

But you know like many collectors have made a lot of mistakes along the way and then eventually learn that art could also be an investment.

From our perspective we see this asset class which is really enormous.

If you listen to read any of the statistics on art as an asset class, the Lloyd estimates that there's $1.7 trillion in fine art in between ultra high net worth.

Collectors home there's 50 to 60 billion dollars a year themselves in terms of volume 2 to 3% turnover.

So this very interesting investment but the problem with that and we hear this all the time is that the only way to participate is if you have a couple million dollars by a painting.

So it's this really unique outperforming asset class that really nobody can afford unless you have a lot of money to acquire the art.

We think it's a natural asset class to be secured.

You made such an interesting leap right you so you collected art, clear to very interested in art.

You could say that about a lot of people how would say you took it just not one step further.

I guess you took it like a mile more than anyone else could you talk to us some about that thought process.

You know how it did become an idea and how do you turn into what it is today.

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