Art as a financial investment

R.A.J. Pownall

Research output: Chapter in Book/Report/Conference proceedingChapterScientificpeer-review

Abstract

This chapter takes a close look at the financial implications of including art as an alternative asset class. Faced with under-performing portfolios, investors are continually seeking alternative assets and sophisticated solutions to reap high returns while minimizing risk. This previously nontransparent market is becoming more accessible via the increasing availability of indices and data on the art market. Additionally, art funds offer investors the opportunity to invest indirectly into the art market. Indirect investment into the art market results in losing the aesthetic pleasure from holding the art; however, financial gains can be made through pooling resources with the help of experts while gaining from diversification benefits. The art fund market is still in its infancy. There are few alternatives, and these are only available to investors willing to invest at a substantial level. Entry levels are at present still high. In time, these funds may become more accessible to the mainstream investor through pooling joint interests.
Original languageEnglish
Title of host publicationCollectible Investments for the High Net Worth Investor
EditorsS. Satchell
Place of PublicationOxford
PublisherAcademic Press
Pages119-150
Number of pages265
ISBN (Print)9780123745224
Publication statusPublished - 2009

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Investors
Art
Art market
Alternative assets
Pleasure
Resource pooling
Diversification benefits
Pooling

Cite this

Pownall, R. A. J. (2009). Art as a financial investment. In S. Satchell (Ed.), Collectible Investments for the High Net Worth Investor (pp. 119-150). Oxford: Academic Press.
Pownall, R.A.J. / Art as a financial investment. Collectible Investments for the High Net Worth Investor. editor / S. Satchell. Oxford : Academic Press, 2009. pp. 119-150
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Pownall, RAJ 2009, Art as a financial investment. in S Satchell (ed.), Collectible Investments for the High Net Worth Investor. Academic Press, Oxford, pp. 119-150.

Art as a financial investment. / Pownall, R.A.J.

Collectible Investments for the High Net Worth Investor. ed. / S. Satchell. Oxford : Academic Press, 2009. p. 119-150.

Research output: Chapter in Book/Report/Conference proceedingChapterScientificpeer-review

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Pownall RAJ. Art as a financial investment. In Satchell S, editor, Collectible Investments for the High Net Worth Investor. Oxford: Academic Press. 2009. p. 119-150