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Art Investment Risks

Art Investment Risks

Investment in art is part of what is called “alternative investment,” i.e., investment other than stocks, bonds or cash. Such investment has some typical characteristics: The current market value is difficult to evaluate; compared to financial assets such objects are more illiquid; the information needed before investing is substantial; and […]

Is Art Investment Profitable?

Is Art Investment Profitable?

Considering the high prices paid at art auctions in recent years, the answer seems to be obvious. However, over a longer time period, the high prices are only partly reflected in high rates of return on investment in art. In an article published in Management Science in 2013, Renneboog and […]

To Invest or Not to Invest in Art?

To Invest or Not to Invest in Art?

Recently, in 2013, Professors Bruno S. Frey (CREMA-Center for Research in Economics, Management and the Arts, Switzerland) and Reto Cueni (University of Zurich, also Switzereland) published a very interesting article, “Why Invest in Art?”, in The Economists’ Voice regarding the topic of investments in art. Certainly, the record prices paid […]