Elephant in the room: The art market went through a massive, just staggering, boom. Prices and volume went through the roof on fine art.
These guys showed up way too late to the party. No matter what their product was, it wasn't a good idea to launch something related to the sales of fine art just as the bloom came off the rose.
Your point about the art market boom and downturn is definitely true. As the article alludes to, fractional models tend to do well in downmarkets because they enable buyers to reduce risk.
These guys showed up way too late to the party. No matter what their product was, it wasn't a good idea to launch something related to the sales of fine art just as the bloom came off the rose.