Getty
Luxus launched Wednesday and plans to sell 2,000 shares of its first piece, a pink Argyle diamond valued at $400,000, for $200 each, pending SEC approval this month. Founded by former Blackstone managing director Dana Auslander and Gretchen Gunlocke Fenton, a former accessories editor at Vogue and Glamour and public relations executive at Chanel, Luxus is the first fintech platform to specialize in selling shares of precious gems and jewelry.
“It seemed like a really obvious gap that needed to be filled, and no one was really doing it,” says Auslander, the startup’s CEO. “We believe that there is tremendous demand from retail investors, because we're dealing with things that are a natural resource. They’re a commodity, they’re a luxury asset and they’re collectibles.”
Investors chasing those high returns will have to make some sacrifices in liquidity and fees compared with simple stock trades. Luxus will hold the gem for at least a year, and Auslander expects to sell most assets within 18 months to three years after an offering closes. Shareholders will pay management fees on the Argyle diamond of 0.75%.
here are my naked photos
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: ABC7 - 🏆 67. / 68 Read more »
Source: ABC7Chicago - 🏆 284. / 63 Read more »
Source: ABC7NY - 🏆 592. / 51 Read more »
Source: ABC - 🏆 471. / 51 Read more »
Source: RobbReport - 🏆 309. / 63 Read more »