This thesis considers the increasing underlying changes in art price patterns, both over time and amongst different artworks, which are not evident due to the apparently overall constant performance of the art market. It argues, in line with previous literature, that implementing an index for masterpieces' returns, could be a useful approach in order to understand better what trend direction the market is currently pursuing. Notably, our contribution to the existing literature lies in the inclusion of a more recent dataset. Developing our analysis focusing on Contemporary and Modern art, we aim to enhance and broaden insights regarding the market for Post-War artworks, and how they can contribute as a valid asset diversifier against a standard portfolio only composed of traditional financial assets.
Date of Award | 23 Oct 2024 |
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Original language | English |
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Awarding Institution | - Universidade Católica Portuguesa
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Supervisor | Ivan Alfaro (Supervisor) |
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- Contemporary & modern art
- Index implementation
- Asset diversification strategy
- Market trends
- Traditional financial assets
- Alternative assets
- Mestrado em Finanças (mestrado internacional)
Art as a diversifier: the ever-green value of art masterpieces. Is it a good investment decision?
Zucaro, J. (Student). 23 Oct 2024
Student thesis: Master's Thesis