An art dealer told a group of patrons that if they would each invest $50,000 into a fund, then the dealer would use the money to purchase works from up-and-coming artists. The dealer explained that in a few years when those purchased works were more valuable, they would be sold and the patrons would receive their money back, plus a profit. Under the Howey test, is the dealer's proposal counts as a security transaction?
A. It's a security transaction.
B.It's not a security transaction