Offering Circular | Operating Agreement | Terms Sheet | Selected Risks Related to this Offering | StartEngine Collectibles' SEC EDGAR Page | Section 17(b) Disclosure
This Reg A+ offering is made available through StartEngine Collectibles Fund I, LLC. No broker-dealer or other intermediary is involved in this offering.
- Artist: The notoriously anonymous Banksy is an England-based artist known for social commentary and political activism rooted in street art and urban art. He has become well known for his subversive and satirical works typically displayed in public view on the sides of buildings, bridges and outdoor walls around the world.
- Notoriety: The Laugh Now image holds a historical importance becoming one of Banky’s first known images worldwide when a different artwork featuring similar imagery was sold at auction in 2008 for $500,000, a then milestone for the artist at auction. Laugh Now was first created in 2002 for a nightclub in Brighton, which is usual for the artist who usually creates works in public view on buildings. Banksy has used the monkey as one of his most recognizable and revisited characters and the Laugh Now image in many different artworks. In 2019, Banksy’s Devolved Parliament, which famously depicted the British House of Commons with chimpanzees and orangutans, set a world record for the artist at auction at £9.9 million Great British Pounds (approximately $12.2 million US Dollars).
- The Artwork: This artwork is a screenprint in colors on wove paper from 2003-2004. This work is from an edition of 150 of the Laugh Now that were signed. There is also an unsigned edition of 600. The work is signed and dated 04 in black in and numbered 50/150 in pencil in the margin. The print series was published by Pictures on Walls, London. This work also comes with, the all-important, certificate of authenticity from Pest Control, Banksy’s official authentication.
The Market
Fine art is an asset class that has consistently outperformed the S&P 500 over the last 25 years.
According to the Citi Global Art Market chart, contemporary art has offered an annual return of 14% over the last 25 years, versus a 9.5% annual return from the S&P 500 as of December 2020. The same article found that contemporary art works created from 1945 through now recorded losses in only 4% of cases, over 3-year investment periods.*
*Please note that these are historical returns for the art market as a whole and do not reflect the value of or potential returns on the shares of this Series.
*This graph represents some historical auction results for comparable works of Banksy, Laugh Now, and does not reflect the value of or potential returns on this asset. These auction results do not represent sales for similar objects nor sales of the work currently being offered by StartEngine Collectibles.
WHAT IS SE Collectibles?
StartEngine Collectibles is the future of alternative assets
StartEngine democratizes investment opportunities in assets once reserved for industry professionals and the affluent, by breaking down the barriers to entry such as marketplace access, industry insights, proper procurement, authentication, storage, and insurance for these alternative assets.
Alternative Investments:
The 2018 U.S. Trust Insights on Wealth and Worth survey on wealthy households found that while baby boomers and older investors rely primarily on traditional stocks and bonds, younger investors, especially millennials, are more likely to incorporate alternative strategies into their investment portfolios.
Millennials allocate 17% to alternatives and assets other than stocks, bonds and cash. It also found that 61% of millennial investors think it’s not possible to achieve above-average returns by investing solely in stocks and bonds anymore, and are looking for alternative investments. For example, the report showed that millennials are the fastest-growing segment of art collectors, up 8% year-over-year and comprising 36% of total respondents. We believe these shifts in millennial investing tastes suggest there will be more interest in investing in alternative assets.
LINKS:
Banksy’s Chimp Parliament Painting Sells for a Startling $12 Million at Sotheby’s
Banksy tried to destroy his art after it sold for $1.4 million. The shredded version just went for $25.4 million
Interested in purchasing this investment opportunity outright? Email assets@startengine.com.
Do you have artwork you would like to sell using Start Engine? Email assets@startengine.com.
No further investment commitments will be accepted for the current offering after 11:59pm PST on March 22, 2022. Commitments in the offering will be accepted up to that date and processed as promptly as possible. Processing may occur after commitments are no longer being accepted, but prior to closing. None of the terms of the offering have been changed. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond this date in its sole discretion.
DISCLAIMER:
AN OFFERING STATEMENT REGARDING THIS OFFERING HAS BEEN FILED WITH THE SEC. THE SEC HAS QUALIFIED THAT OFFERING STATEMENT, WHICH ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING CIRCULAR THAT IS PART OF THAT OFFERING STATEMENT CAN BE FOUND HERE .
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
THERE IS NO EXPECTATION THAT AN ACTIVE PUBLIC OR PRIVATE MARKET WILL BE ESTABLISHED FOR THE SECURITIES IN THIS OFFERING, EITHER IN THE UNITED STATES OR ANY FOREIGN JURISDICTION, WHETHER THROUGH STARTENGINE SECONDARY, THIRD-PARTY REGISTERED BROKER-DEALERS OR OTHERWISE. FURTHERMORE, EVEN IF A MARKET WAS ESTABLISHED, THERE IS NO GUARANTEE THAT FOREIGN INVESTORS WOULD BE ABLE TO PARTICIPATE IN TRANSACTIONS ON THOSE MARKETS. STARTENGINE SECONDARY CURRENTLY DOES NOT, AND MAY NEVER ALLOW FOREIGN INVESTORS TO ESTABLISH OR MAINTAIN SUBSCRIBER ACCOUNTS REQUIRED TO TRADE SECURITIES ON THE ALTERNATIVE-TRADING SYSTEM.
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ABOUT
HEADQUARTERS
3900 W ALAMEDA, AVE STE 1200
Burbank, CA 91505
WEBSITE
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TERMS
Overview
PRICE PER SHARE
DEADLINE
Jun. 10, 2025 at 4:36 AM UTC
VALUATION
Breakdown
MIN INVESTMENT
MAX INVESTMENT
OFFERING TYPE
Maximum Number of Shares Offered subject to adjustment for bonus shares
ALL UPDATES
06.06.22
StartEngine Collectibles Now Accepts International Investments and Investments from Washington and New Jersey
StartEngine Collectibles is now accepting investments from Washington and New Jersey as well as from international investors. If you are an investor from WA or NJ and were not previously able to submit an investment, now you can!
Simply complete your investment flow as you normally would and our team will handle the rest!
We truly appreciate your patience and hope to have more updates soon.
This Reg A+ offering is made available through StartEngine Collectibles Fund I, LLC. No broker-dealer or other intermediary is involved in this offering. StartEngine Collectibles Fund I, LLC is not currently accepting investments from FL and TX.
04.08.22
Important Announcement
As many of you are aware, StartEngine Collectibles has been notifying the public about the number of days left to invest in "Banksy, Laugh Now." Given the amount still available in the offering, StartEngine Collectibles has decided to adjust the final day to invest, which will now be June 30, 2022.
We appreciate your understanding and look forward to fulfilling the offering moving forward!
With just $20K left - INVEST NOW
This Reg A+ offering is made available through StartEngine Collectibles Fund I LLC. No broker-dealer or other intermediary is involved in this offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view the offering circular and the risks associated with this offering.
03.22.22
Important Announcement
As many of you are aware, StartEngine Collectibles has been notifying the public about the number of days left to invest in "Banksy, Laugh Now." Given the amount still available in the offering, StartEngine Collectibles has decided to adjust the final day to invest, which will now be April 15, 2022.
We appreciate your understanding and look forward to fulfilling the offering moving forward!
This Reg A+ offering is made available through StartEngine Collectibles Fund I LLC. No broker-dealer or other intermediary is involved in this offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view the offering circular and the risks associated with this offering.
03.12.22
10 DAYS LEFT! SPACE LIMITED
Banksy is notoriously known for being anonymous, however, the auction sales results of his work, and specifically the Laugh Now piece, is clear. People value Banksy art.
Since 2008, the auction sales price for comparable Laugh Now prints has increased 837%!*
Now is your opportunity to invest in a Banksy Laugh Now print, but please note that there are only 10 days left to invest!
No further investment commitments will be accepted for the current offering after 11:59 pm PST on March 22, 2022. Commitments in the offering will be accepted up to that date and processed as promptly as possible. Processing may occur after commitments are no longer being accepted, but before closing. None of the terms of the offering have been changed. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond this date at its sole discretion.
*Please note that these are historical auction results for comparable works of Banksy, Laugh Now, and do not reflect the value of or potential returns on this asset. These auction results do not represent sales for similar objects nor sales of the work currently being offered by StartEngine Collectibles.
This Reg A+ offering is made available through StartEngine Collectibles Fund I LLC. No broker-dealer or other intermediary is involved in this offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view the offering circular and the risks associated with this offering.
03.08.22
BANKSY RAISES $50K+ IN FIRST 48 HOURS! 14 DAYS LEFT!
Since the launch this past Saturday, Banksy’s Laugh Now has raised over $50k!
We’re excited about this offering, but let’s see what Mr. Wonderful has to say about this unique investment opportunity:
Given the quick start and the limited amount of funds still available, we are announcing that there are only fourteen (14) days left to invest in Banksy’s Laugh Now!
Will you have the last laugh?
No further investment commitments will be accepted for the current offering after 11:59 pm PST on March 22, 2022. Commitments in the offering will be accepted up to that date and processed as promptly as possible. Processing may occur after commitments are no longer being accepted, but before closing. None of the terms of the offering have been changed. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond this date at its sole discretion.
This Reg A+ offering is made available through StartEngine Collectibles Fund I LLC. No broker-dealer or other intermediary is involved in this offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view the offering circular and the risks associated with this offering.
Section 17(b) disclosure
Kevin O’Leary is a paid spokesperson for StartEngine. Kevin is paid $400,000 per year for the first three years, then $420,000 in year four, $450,000.00 in year five, and $480,000 in year 6. Kevin has also received compensation in the form of 322,506 options at a $7.50 strike price and 343,282 options at a $40.50 strike price.
REWARDS
JOIN THE DISCUSSION
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Caleb Naysmith
3 years ago
Why are these maxed-out offerings still raising?
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Bruce Wertz
3 years ago
3 months ago I wrote requesting a condition and grading report, and in part, Leon replied "we have assessed the work to be in excellent condition. A more thorough condition report will be available when the work arrives at our storage facility. The artwork is currently in transit.." For that reason my request could not be fulfilled." I would assume that if it was "in transit" 3 months ago, it must be in your possession now -- unless it's not. Please explain the status of the appraisal and condition info I previously requested . Thank you.
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Jason Blum
3 years ago
This is the second time I’m asking. When will I see that my funds are accepted and I own my shares? I understand from the statement put out by the CEO that your staff met at a high end Malibu home on the ocean to get together and “work”. Maybe dedicating more staff to answering investor’s questions would help.
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Jason Blum
3 years ago
When will my money go thru?
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Jason Blum
3 years ago
Thank you.
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Jason Blum
3 years ago
Can someone answer my question please?
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Jason Blum
3 years ago
So what happens next? Kind of rhetorical but is it a waiting game until a decision is made to sell? And how is notification made to investors? Thank you
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Jason Blum
3 years ago
This is my first portion investment in art. I purchase works by up and comers but never like this. Do you see more works coming in for investment? I like this. I think the ability for non billionaires to own a piece of Banksy is great. For those who doubt, just do your due diligence and you’ll find all is in line. Risk is risk.
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Megat Ekamal Zeehan
3 years ago
I would like to ask a small question pertaining to what will be the difference to invest here in Banksy rather than Masterworks.io directly? Does anyone have any experience in this? Thanks in advance.
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HOW INVESTING WORKS
Cancel anytime before 48 hours before a rolling close or the offering end date.
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FAQS
With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.
With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000 are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, they are limited to investing 10% of the greater of the two amounts.
At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.
Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.
StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.
For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.
For Regulation A+, StartEngine allows for a four-hour cancellation period. Once the four-hour window has passed, it is up to each company to set their own cancellation policy. You may find the company’s cancellation policy in the company’s offering circular.
Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.
Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to be sent back to the account associated with the investment.
Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.
Jesse Hale
3 years ago
Now that this has hit Max offering will it be closed and what is the holding period before going to market for SE?
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