Lot · 001Fine Art
Blue-chip & emerging art
Works evaluated on provenance, exhibition history, market depth and conservation requirements — from established names to rigorously selected emerging artists.
Provenance verifiedView
Real assets
Structured access to museum-grade assets.
Fractional co-ownership of selected physical assets, documented directly between co-owners and recorded via digital tokens. One asset at a time, chosen by conviction rather than volume.
Chapter 01 — Markets older than the stock exchange
These markets did not need inventing.
Art, gems, watches and rare spirits have stored value for centuries — long before exchanges, tickers or quarterly reporting existed. They were held by families, institutions and collectors who understood the object itself, and who transferred it privately when the moment came.
What has changed is not the value of these markets. What has changed is access.
A single museum-grade work, a certified stone or a reference timepiece has always required the whole ticket from a single buyer, along with the expertise to authenticate it and the infrastructure to hold it. Documented fractional co-ownership addresses that constraint without softening the standard applied to the object.
An auction-house discipline
Where an asset arrivesonly after it has proven itself.
Each asset admitted to Altherum passes a documented review — from provenance and independent appraisal to custody, insurance and the eventual sale process. What appears on the platform has already earned its place.
Participation starts from €1,000 — not as an entry-level product, but so that collectors and investors can hold a documented share of pieces that would otherwise remain out of reach.
Chapter 02 — The classes
Eight families of tangible, verifiable value.
Presented as lots — each one photographed, catalogued and admitted only after independent expertise.
Lot · 002Cellar
Fine wine & rare whisky
Single-cask bottlings and cellar-grade investment vintages, selected for pedigree, condition, provenance and secondary-market demand.
Provenance verifiedView
Lot · 003Gemmology
Diamonds & coloured gemstones
Stones with recognised laboratory certification, assessed on origin, treatment, cut and comparable transactions.
Provenance verifiedView
Lot · 004Metals
Gold & rare metals
Investment-grade bullion and rare metals held in vaulted custody, with assay documentation and independent verification of weight and purity.
Provenance verifiedView
Lot · 005Horology
Collectible watches
Rare, limited and historically significant timepieces — selected for craftsmanship, provenance, condition, brand heritage and collector demand.
Provenance verifiedView
Lot · 006Memorabilia
Sports memorabilia
Match-worn, race-worn and signed pieces with documented authenticity and a traceable competitive history.
Provenance verifiedView
Lot · 007Collectibles
Graded trading cards
Sport and franchise cards with recognised third-party grading, assessed for rarity, population counts and market liquidity.
Provenance verifiedView
Lot · 008Historic
Historic collectibles
Objects of cultural, scientific or motorsport significance with documented authenticity and clear market comparables.
Provenance verifiedView
What drives value
Each class is read on its own evidence.
There is no single measure of quality across these markets. What follows is the evidence we require before an asset in each class is considered at all.
01
Blue-chip & emerging art
Provenance, exhibition history, auction records.
A work is read through its chain of ownership, the institutions that have shown it and the depth of comparable results at auction. Emerging names are admitted only where those three elements already exist in verifiable form.
02
Collectible watches
Reference rarity, condition, papers.
Value concentrates in specific references produced in limited numbers, in original condition, accompanied by their box and papers. Service history and dial originality are examined before anything else.
03
Investment-grade gemstones
GIA-certified colour, clarity and carat.
Only stones with recognised laboratory certification are considered. Origin, treatment disclosure and the cut are assessed against comparable certified transactions rather than retail pricing.
04
Fine wine & rare whisky
Appellation and distillery pedigree, bonded storage, age statements.
Pedigree comes first, then the integrity of storage: bonded, climate-controlled and documented without interruption. Age statements and cask records must be consistent with the bottling itself.
05
Sports memorabilia
Authentication, photo-matching, cultural relevance.
A piece is accepted where authentication is independent, where photo-matching ties it to a specific moment, and where that moment still means something to a collector base.
06
Graded trading cards
PSA / BGS population reports.
Grading is read together with population reports: how many examples exist at that grade, and how many above it. Scarcity at grade — not the card alone — defines the position.
07
Gold & rare metals
LBMA-certified form only.
Metals are admitted exclusively in LBMA-certified form, with assay documentation and independent verification of weight and purity on entry into vaulted custody.
Chapter 03 — The discipline
Authenticate, value, hold, and know the way out.
The same sequence applies to every asset, in every class. Nothing is admitted because it is desirable; it is admitted because each step below has been completed and documented.
- 01
Independent authentication
Authenticity and provenance are examined with independent experts. The seller's assessment is never the basis of admission, and most candidates are declined.
- 02
Three-scenario valuation
Value is modelled on comparable transactions under conservative, central and favourable scenarios, so the range — not a single figure — informs the decision.
- 03
Custody feasibility
An asset is only admitted if it can be held properly: segregation, environmental conditions, handling and transport are assessed before acquisition.
- 04
Insurance at appraised value
Assets are insured at appraised value, with periodic independent revaluation so that cover follows the asset rather than the purchase price.
- 05
Exit planned before entry
The exit channel — auction, private sale or specialist dealer — is identified before acquisition and documented with the distribution mechanics.
- 06
Documented administration
The register of participations is administered digitally, with periodic reporting as set out in the documentation for each asset.
Chapter 04 — Access, from €1,000
A practical entry point, an unchanged standard.
The entry point exists to make allocation practical: a documented share of a museum-grade object, sized to fit within a considered portfolio rather than to dominate it.
It is not a concession on quality. The asset admitted at €1,000 per share is the same asset, authenticated by the same independent experts, valued on the same three scenarios and held under the same insured custody.
The framework
Selection, appraisal, custody, exit.
- 01
Selection
Every piece is sourced and reviewed individually. Nothing is admitted in bulk, and most candidates are declined.
- 02
Independent appraisal
Authenticity, provenance and valuation are examined with independent experts; we do not rely on the seller's assessment.
- 03
Legal structuring
Co-ownership is documented directly between the co-owners — no intermediate SPV — and recorded via digital tokens.
- 04
Insured custody
Assets are placed with professional custodians under segregation, insurance and environmental arrangements described for each asset.
- 05
Holding & administration
The register of participations is administered digitally, with periodic reporting as set out in the documentation.
- 06
Exit
The exit channel — auction, private sale or specialist dealer — and the distribution of net proceeds are defined in the transaction documentation.
Participation model
Direct co-ownership, defined by the documentation.
There is no intermediate special-purpose vehicle for real assets. Co-owners hold a documented undivided share of the asset itself; digital tokens record and administer that share. Rights — including transferability, holding period and distribution mechanics — are set out in the relevant contractual documentation, not by marketing language.
Physical assets are placed under appropriate professional custody and insurance arrangements. Every participant completes KYC/AML before any allocation.
Investing in collectible and physical assets involves risk. Each asset is governed by its own documentation.
Altherum Tokenization is a brand of CGPH Asset Management SAS.
FAQ
Questions we are asked most.
General information only. For any specific opportunity, the transaction documentation reviewed with each eligible investor prevails.
- A documented undivided share of the physical asset itself. There is no intermediate vehicle for real assets: co-ownership is contractual between co-owners, and digital tokens are used to record and administer that share.
- Assets are placed with professional custodians under segregation and insurance arrangements described asset by asset, including storage conditions where relevant (bonded and climate-controlled storage for wine and whisky, vaulting for metals and gemstones). Cover is set at appraised value and revisited through periodic independent revaluation.
- On comparable transactions, examined under conservative, central and favourable scenarios rather than a single headline figure. Valuation is one input among several: authentication, custody feasibility and a realistic exit channel must all hold before an asset is admitted.
- Exit depends on the sale of the underlying asset — typically through auction, private sale or a specialist dealer — and on the terms of the relevant documentation. The channel is identified before entry, but timing and outcome are not guaranteed and there is no continuous secondary market.
- Participation is open subject to onboarding checks (KYC/AML, eligibility and suitability where applicable) and typically starts from €1,000 per asset. Availability may be restricted in certain jurisdictions.
- No. Tokens record and administer a share; they do not create a market for it. Liquidity still depends on a buyer for the physical asset, and transfers are restricted to verified participants.
Further reading
Read further.
Background notes and guides from our editorial hub, written for context rather than promotion.
- Library guideGuide: tokenized real assetsWhat a token represents, and what it does not.
- Library guideGuide: custody of collectible assetsSegregation, environmental conditions and insurance at appraised value.
- JournalThe asset comes firstWhy the object, not the structure, decides admission.
- JournalHow real assets are selected and valuedComparables, scenarios and the reasons most candidates are declined.
- JournalWhy tokenization does not automatically create liquidityA share can be recorded digitally and still require a buyer.
Next step
Review a current asset with us.
Tell us what you collect or follow, and we will share the documentation for the assets currently open — selection notes, appraisal, custody and exit terms.