Tom de Freston, Darkness Visible, 2021

Investment Thesis 📝
 

Metric	Value
Investment Horizon	2–4 Years
Expected Net ROI (Balanced)	26.3% p.a. after costs
Optimistic Net ROI	33.1% p.a. after costs
Entry Discount	49% below current gallery price
Sharpe Ratio	0.83 (vs. SMI: 0.61)
Value at Risk (VaR)	90% chance to exceed €111,100 (4 yrs)
Standard Deviation	33.3%
Risk Rating	B (7.2/10 – Moderate Risk)

 

• 2–4 Year Horizon: Positioned for medium-term appreciation, supported by upcoming solo exhibitions in London (2025) and Cambridge (2026).

• 26.3% CAGR (Balanced): Based on a 50% probability of realizing a 19.7% (CAGR of the past 4 years) annual return for the next 4 years. These potential returns over the next four years, under both the balanced and ambitious scenarios, are further enhanced by the 49% discount at which this work is offered compared to the current gallery price for similar-sized paintings.

• 33.1% CAGR (Optimistic): Based on a 80% probability of realizing a 19.7% (CAGR of the past 4 years) annual return for the next 4 years. These potential returns over the next four years, under both the balanced and ambitious scenarios, are further enhanced by the 49% discount at which this work is offered compared to the current gallery price for similar-sized paintings.

• ~49% Entry Discount: Acquired at GBP 85,000, nearly half of the current gallery price of GBP 168,000.

• Sharpe Ratio of 0.83: Favourable return relative to volatility, outperforming the SMI benchmark (0.61).

• 90% VaR Threshold: Model indicates a nine-in-ten chance of exceeding €111,100 after 4 years.

• Standard Deviation (33.3%): Moderate volatility comparable to broader art benchmarks, balanced by downside protection.

• Risk Rating “B”: Moderate profile supported by institutional acquisitions and increasing market validation.

Exit Options at Maturity 🚪

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We manage the exit strategy on behalf of our investors to achieve the best possible outcome based on the market conditions at the time. Depending on the market situation, the painting will be sold to a private collector or offered as a single lot at an auction for contemporary art. An auction is considered if the price has developed to the point where the minimum bid matches the market value and there is strong demand for the artist’s work. Both options are carefully evaluated, and we choose the one that maximizes returns for our investors.

Why Invest in This Category? 🎨

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For centuries art was collected for its cultural, emotional, intellectual, political, and economic value. Investing in emerging artists offers a mix of financial potential and personal satisfaction, making it an appealing option for both new and seasoned collectors.

Why Invest in This Asset? 💎

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Tom de Freston (born in 1983 in London) is a British visual artist based in Oxford, known for his immersive multimedia works that blend painting, film, and performance into cohesive narratives. His art explores the darker facets of human experience, juxtaposing figurative and abstract elements to create unsettling yet compelling compositions.

He graduated from Cambridge University in 2007 and has since held several notable residencies and fellowships, including a Leverhulme Residency at the University of Cambridge and the inaugural Creative Fellowship at Birmingham University.

De Freston's painterly, literary, and stage projects are often collaborative and interdisciplinary, drawing on literary, art historical, personal, and social themes.

His regular collaborators include his wife, writer Kiran Millwood Hargrave; filmmaker Mark Jones (Unmarked Films); writer and academic Professor Simon Palfrey; and academic Dr. Pablo de Orellana. Past collaborative projects include “Demons Land”, “Orpheus and Eurydice”, and “Scavengers”.

In collaboration with his wife, de Freston has co-authored award-winning children's books, including “Julia and the Shark” (2021). His debut non-fiction work, “Wreck” (2022), blended memoir, fiction, and art history, offering a personal exploration of Théodore Géricault's “The Raft of the Medusa”.

A significant event in de Freston's career occurred when his studio was destroyed by fire in 2018, resulting in the loss of twelve years of work. This tragedy inspired the creation of a critically acclaimed series of large-scale paintings, "I Saw This" —of which the offered painting is a part—as well as the book “Wreck”, and a documentary exploring trauma and collaboration.

De Freston's work is included in major museums and institutions such as the Arts Council of Great Britain, The Whitworth, National Portrait Gallery, The Contemporary Art Society, Holburne Museum, Royal Academy of Arts Collection, Barbican Centre Museum London, and Moco Museum London.

His work has also been featured in numerous key galleries and museums over the years.

Selected Shows / Projects:
• Upcoming
A solo show at Iyad Qanazea Gallery (under discussion), Abou Dhabi, UAE, May 2026
A solo exhibition at the Museum of Classical Archaeology, Cambridge, UK, March–April 2026
A solo show at the Varvara Roza Galleries, London, UK, December 2025

• 2024
His paintings were shown as part of the museum’s permanent collection, The Whitworth, Manchester, UK

• 2023
“Small Worlds”, No20 Arts Gallery, London, UK – solo show
“After Before”, No20 Arts Gallery , London, UK – group show

• 2022
“From Darkness”, No20 Arts Gallery, London, UK – solo show

• 2018
“Orpheus and Eurydice”, Lush Life (headquarters), London, UK – collaborative project
“Demons Land”, Arts Council England – Old Fire Station, Oxford, UK – multimedia collaboration

• 2017
“Demons Land”, Stowe National Trust, Buckingham, UK – multimedia collaboration
“Demons Land”, Ashmolean Museum, Oxford, UK – multimedia collaboration

• 2016
Commissioned Project by Battersea Arts Centre, London, UK – permanent installation
“Orpheus and Eurydice”, Ugly Duck - 47/49 Tanner Street, London, UK – multimedia collaboration

• 2014
“Orpheus and the Minotaur”, Bresse Little Gallery, London, UK – solo show

• 2013
“The Charnel House”, Bresse Little Gallery, London, UK – solo show
“Paintings After Shakespeare”, The Globe Theatre, London, UK – solo show

• 2012
“Scavengers”, Tsubouchi Memorial Theatre Museum, Tokyo, Japan – solo show
“On Theatre”, Bresse Little Gallery, London, UK – solo show
“Shakespeare Paintings”, Pallant House Gallery, Chichester, UK – solo show


The painting “Darkness Visible”, which we are offering, is part of Tom de Freston’s “I Saw This” series, which he began in 2019. The series was exhibited in a solo show at No 20 Arts Gallery in London in 2022 and later documented in a publication released by Anomie Publishing in 2023. This work is one of 25 large paintings (200 × 125 cm) created for the series, which also includes smaller paintings and works on paper.

The series explores the visual and emotional impact of war, displacement, and personal loss. It emerged from a collaboration with Syrian academic Dr. Ali Souleman, who lost his sight in a 1997 bomb attack while waiting at a bus stop in Damascus. The project seeks to translate Souleman’s internal world of memories into a highly charged body of paintings that explore the visual and emotional impact of war, displacement, and personal loss. Through haunting, fragmented imagery, the series blends figurative and abstract elements to evoke a sense of disorientation and fractured reality.

Conclusion 🎯

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Tom de Freston’s Darkness Visible unites artistic gravitas, institutional validation, and significant market potential. Offered at nearly half the current gallery price, it combines compelling entry value with a strong growth trajectory. For collectors seeking both cultural significance and measurable upside, this work presents a rare and timely opportunity.