Fine art and high finance : expert advice on the economics of ownership /

Fine art and high finance : expert advice on the economics of ownership /

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Bibliographic Details
Edition:1st ed.
Imprint:New York : Bloomberg Press, 2010.
Description:xviii, 317 p. : ill. ; 24 cm.
Language:English
Subject:
Art as an investment.
Capitalists and financiers as art collectors.
Art -- Collectors and collecting.
Art as an investment.
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/8445657
Hidden Bibliographic Details
Other authors / contributors:McAndrew, Clare.
ISBN:9781576603338 (alk. paper)
1576603334 (alk. paper)
Notes:Includes bibliographical references and index.
Summary:"Art investors and collectors can't protect and profit from their collections without grappling with a range of complex financial issues like risk, insurance, restoration, and conservation. In Fine Art and High Finance, Clare McAndrew and a highly qualified team of contributors explain the most difficult financial matters facing art investors"--Provided by publisher.
Table of Contents:
  • About the Editor
  • Acknowledgments
  • About the Contributors
  • 1. An Introduction to Art and Finance
  • 2. Art Appraisals, Prices, and Valuations
  • How, where, and when people buy art and what they do with it
  • The economics of the art market: supply, demand, and price determination
  • Valuation and appraisal issues; art as a financial asset; quantitative and qualitative issues
  • 3. Art Price Indices
  • Investment returns to art; assessment of performance between assets and over time
  • Art price indices-methods and debates
  • Art data
  • 4. Art Risk
  • Investment risk
  • Portfolio diversification
  • Risk management
  • Credit default swaps
  • Derivatives and structured products
  • 5. Art Banking
  • Art as collateral and downside risk
  • Art lending: history and current practices
  • Art financing solutions: comparative review of banks, auction houses, galleries, and others
  • The future of art banking
  • 6. Art Funds
  • Art funds: history and motivations
  • Art funds today: different methods and approaches
  • Strategies: sector allocation, opportunity funds, and hedg funds
  • Current status of the market
  • Future outlook
  • 7. The Government and the Art Trade
  • Role of the government in the art market
  • Art and the national patrimony
  • Trade restrictions and investment issues
  • U.S. relationship between art and government
  • U.K. relationship between art and government
  • 8. Insurance and the Art Market
  • Art as a real asset: risk issues and the insurance market
  • Insurance and the art market: history, practice, and methods
  • Art appraisal and valuation issues
  • 9. Art and Taxation in the United States
  • Tax and the art market: global investment and the tax nexus
  • Income tax implications
  • Transferring wealth: capital gains and inheritance tax
  • Wealth taxes
  • VAT and trading taxes
  • Estate planning and the legal implications of inheriting, selling, and bequeathing art; divorce situations; prenuptial agreements; division among heirs
  • 10. Art and Taxation in the United Kingdom and Beyond
  • The UK tax system
  • Direct taxes: income tax, capital gains tax and corporate tax
  • Indirect taxes: VAT
  • Wealth tax
  • 11. Art Conservation and Restoration
  • Conservation versus restoration versus preservation
  • Cost and return implications
  • Methods, practices, and services
  • 12. The Illegal Art Trade
  • The black and grey markets for works of art
  • Provenance, fakes, and forgeries
  • Illegal import and export, repatriation, export licensing, and die national patrimony
  • Art theft and stolen art: issues and anecdotes
  • The global movement of works of art: legal and illegal, repatriation, art and conflict
  • Index

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