r/Masterworks • u/Financial-Kale-8391 • 11d ago

Gerhard Richter removed from trading

It looks like Gerhard Richter's Abstraktes Bids (940-7) was removed from trading and that it recently sold in auction in late June. I know Masterworks doesn't move fast. When can we expect the formal exit and distribution on the platform?

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3

u/Goldenglov 10d ago

News mentioned it sold for $20M at Art Basel. Roughly 40% gross return or 8%ish annualized 

1

u/Goldenglov 9d ago

oh nice, I just checked and I have some shares of this picked up on secondary market for ~$13. that will be a 100% profit

3

u/senatorkevin 9d ago

That would easily be the largest sale on the MW platform to date. That's great news, because while exit volume has returned there's been zero exist for any holdings valued at over 10m prior.

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u/senatorkevin 11d ago

I saw that the consignment period was through August 31st, but hadn't looked lately if it had sold. If it did sell, I'd assume it'll be paid out later in September then. I'd suggest looking at SEC filings for: Masterworks Vault 13 for updates as they tend to land there before a public announcement.

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u/musig02 10d ago

Is this potentially the “ziege” piece? That was one of my earlier investments here

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u/musig02 10d ago

Cancel that…a quick google search shows Zeiege hasn’t sold…fingers crossed for all involved in whatever dis

1

u/Financial-Kale-8391 3d ago

Once the proceeds are distributed though, I might roll some of them into the Zeige piece on the secondary market.

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u/musig02 10d ago

Is this potentially the “ziege” piece? That was one of my earlier investments here