Are there any Shares left?
Yes and No. The Artshare IPO sold out on May 4, 1999. However, a secondary
market will be opening on the site in late July for people interested
in acquiring a Share. For more information, visit the introduction
page.
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Is any of your other work up on the site?
Not yet -- but galleries will be added as soon as possible. Right now
Artshare.com is primarily a support site for the 1999 MacNeill Art Projects
Artshare project, but look for additions in the coming months.
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Is this legal?
Yes. The contract printed on the Shares is a legally binding document,
to which the issuer, Ben MacNeill, can be held. The security itself falls
under Rule
504 of the Securities
Act of 1933 (these links take you to the College of Law at the University
of Cincinnati) concerning the Exemption for Limited Offerings and Sales
of Securities Not Exceeding $1,000,000.
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How many Shares are there and when did the site
open?
There are 800 Shares -- each signed and numbered. No more will be printed.
Ones that didn't print correctly were destroyed. Artshare.com launched
in late March. The investing portion of the site opened Monday morning,
April 12th, 1999.
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How can I track down Shareholders if I want to buy
a Share?
The shareholder list does let investors choose if they want to be associated
with the project. However, for privacy reasons the list does not contain
contact information. A Trading Board will be
added to the site by mid-June. As an interested buyer, you may post your
information there and let a Shareholder contact you.
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If I invest in this project, how do I make money?
-- Do I make money?
There are two ways the value of the Shares can increase for the investor.
The Shares can be returned to Ben MacNeill beginning 2004, for $10 a share.
This represents double the initial public offering price of $5. The second
increase in value can come from the market value of the Shares. For example,
the Shares might trade hands at a price greater than $10. If this occurs,
the Share will take on a new value in the open market based on the economics
of supply and demand. If you are not interested in the business aspect,
the Share can also be used solely as art.
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Am I investing in your paintings and sculpture too?
No -- not directly. The Artshare project is a discrete project which consists
of 800 prints. Of course, all the work is indirectly connected since it
is all created by Ben MacNeill.
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Under your Artist Statement, you mention "micro-bureaucracies"
- can you expound upon this?
When a corporation makes you fill out pages of paperwork, we don't bat
an eye and take it for granted. When an individual does the same I hope
people will reconsider the other bureaucracies that they assimilate. My
way of drawing attention to this is by reversing the roles that people
expect from individuals vs. institutions. Also, I am not anti-business
or anti-capitalism -- in fact, I'm the opposite. This project is meant
to be humorous, but it also has to be absolutely legal. Otherwise it will
just be a joke to which no one will pay attention.
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Do I actually have ownership in something?
Yes and no -- there is no outright ownership in any corporation or entity,
but possession of a share does represent ownership in this art project.
For example, since this project consists of 800 shares; if you own 100
of them, you will own 12.5% of the project.
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How are the shares delivered to me?
The Shares will be mailed securely in a 2 day U.S. Postal priority envelope.
The current postage rate is $3.20. This shipping cost is in addition to
the price of the shares. You may also make other arrangements to pick
up your Shares.
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Can I choose which shares I'll get?
No, the shares will be distributed in numerical order.
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How were the Shares made?
The Shares were printed in Off-set with 3 colors on a Heidelberg press.
The paper is acid-free Finch 105 stock. The ink used to stamp the share
numbers is also acid-free as well as the pen used for the signatures.
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What is the Traded Art Securities Commission?
The Seal on the front of the Share is a creation of MacNeill Art Projects.
It does not represent any federal agency.
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How did this project develop?
It developed out of a continued interest in commerce, the business world
and administrative systems. And art.
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