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As ARTnews reported in December, Masterworks used its sizable money runway to purchase more than $450 million price of work, while chopping over two dozen workers as it struggled to succeed in ambitious sales targets. Former staffers revealed that the value of netting retail traders was an ongoing challenge. Mintus has faced an identical hurdle, an anonymous supply conversant in the company’s enterprise strategy told ARTnews. A extra restrictive regulatory setting in the United Kingdom, where Mintus is predicated, forced it to pivot from retail to institutional traders and household wealth places of work.
Both Christie’s and Sotheby’s have been…