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Art as an asset class and as a component of a financial portfolio

par Oosterlinck, Kim
Référence Global Art Markets: History and Current Trends, Taylor and Francis, page (295-306)
Publication Publié, 2024-01

Partie d'ouvrage collectif

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Résumé :

This chapter discusses art as an investment. Even though art is often bought because buyers have a genuine interest in art, the recent years have seen more and more discussion of art as an asset class. But is investing in artworks a good idea? This chapter first reviews the literature on the use of art as an investment in general; it then proceeds to analyse the role of artworks as an investment in extreme contexts (major crises, wars, high inflation). In general, artworks seem to perform rather poorly as an investment especially when risk is accounted for. Nonetheless, in some extreme contexts, artworks may prove to be extremely resilient, rendering them interesting investment vehicles.