미술품 분할소유권 거래의 법률적 성질

The art market, which once populated by a small number of collectors, is now becoming popular amid increasing demand among young Koreans and art becoming well-known as a source of investment. The concept of fractional ownership isn’t new in the art market — or for thoroughbreds. It’s a buyer-beware investment: Art market is under pressure after complaints from novice investors and is expected to face a regulatory probe. But the pandemic has heightened the taste for those risky bets. It’s about the experience and the excitement of owning a part of something unique — even as many will likely take a loss. The fractional-ownership companies are at the forefront of a burgeoning niche in fractional ownership in luxury assets such as fine art and collectibles. The startups offer the shares as an affordable way to invest in expensive, rarefied fields that are typically available only to the mega-rich. The fractional-ownership companies have different business models, but most file documents with the financial governing body and host initial public offerings similar to new equity issues. Regulatory needs for fractional-ownership companies in art market should be upcoming issues. Fractional ownership is a percentage ownership in an asset. Fractional ownership shares in the asset are sold to individual shareholders who share the benefits of the asset such as usage rights, income sharing, priority access, and reduced rates. The usage benefits that the fractional owners receive are comparable to those of timeshare owners. Fractional ownership is a form of collaborative consumption where the overall cost of a property is split among a group of owners or users. A party that takes on fractional ownership of a vacation property can make personal use of the space and earn revenue when it is rented out. When the property is rented out for a profit by a fractional owner, it serves as a form of investment property.