Hardback192 PagesSize: 234 x 156 x 29 mm
ISBN: 9781848221345Publication: January 21, 2014

'No one is better able than Melanie Gerlis to discuss the pros and cons of art as an investment... This insightful book is a must for anyone seeking to really understand the nature of the art commodity.' Dr Iain Robertson, Sotheby's Institute of Art 

Art as an Investment?

A Survey of Comparative Assets

Melanie Gerlis

£30.00 GBP

  • This is the first book to define art’s investment characteristics by comparing them to other investments, from the traditional (eg, shares in public companies) to the alternative (eg, wine) 
  • It will appeal to would-be collectors, perhaps more familiar with other investment areas 
  • It is the only book on art as an asset class to state explicitly that art comes up short as an investment 
  • The author has a unique background: ten years working in the City followed by seven years as an art-market writer and editor 
  • The author writes accessibly for a non-specialist audience, giving a colourful yet rigorous assessment of the quirks that make the art market so rich

Aimed at collectors and investors, this user-friendly guide explains art's value as an asset through comparisons with more familiar investments, including property, shares and gold. It draws on extensive research and interviews with key players in these other markets, as well as the author's own experience, to clarify the specifics of art as an asset class.

This timely book considers the growing importance attributed to art as an investment, testing the validity of claims about art's capacity to generate returns that outweigh its risks. It offers jargon-free explanations of how the characteristics of blue-chip art can be seen to coincide with and diverge from the fundamental features of more established types of asset. Key issues addressed include the role of subjectivity in the perception of value; the failure of attempts to establish stock markets for art; the risks and shortcomings of art funds; banks' reluctance to lend against art; and the art world's distaste for selling and speculation.

This thorough but accessible text from a respected art market professional is essential reading for art investors and prospective art investors.

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