No, you do not have to be an Accredited Investor to join Masterworks.
Membership is open for anyone, but, there are two very important things you must do to have your application accepted.
#1. Beat the Minimum Deposit
The first thing you must do is indicate that you want to invest $2,000 or more. Anything less, and you will likely be placed on the very long waiting list. The more you are willing to invest the more likely you are to skip the waiting list.
Luckily, a minimum deposit of $2,000+ is easily achievable. So, even if you are a not an accredited investor, you can enjoy a similar access to blue chip art as the wealthy.
Bear in mind you do not have to invest the total amount up front. Rather you can indicate that you are willing to invest $15,000, and then test the waters with one or two thousand dollars. But, you will want to indicate a larger investment amount to get past the waiting list.
If you are unsure about how much of your total wealth you should allocate to Blue Chip art, we recommend you read our guide: How Much Should You Invest Via Masterworks?
#2. Book a Phone Call
The second thing you must do is book a phone call with the Masterworks financial advisor.
During the sign up process you will be asked to book a 15-minute phone call, and this is an important step that a many potential investors overlook. The quick phone call is a regulatory requirement to make sure that you are aware of the potential positive and negative risks of investing in art.
Perhaps best of all; the advisor is free and you can make use of them whenever you wish in the future if you need investment advice about any of the artworks on the platform. This advisory service comes in handy to keep your portfolio properly diversified and in accordance with your long term goals.
Learn more about the Masterworks Phone Interview
If you have any further questions about investing in art funds, like that offered by Masterworks or Yieldstreet, please reach out to mark@easelinvesting.com, and we would be happy to set you on the right path. Additionally, you can learn more about Art ETFs here.
