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Art as a diversifier
: the ever-green value of art masterpieces. Is it a good investment decision?

  • Jasmin Zucaro (Student)

Student thesis: Master's Thesis

Abstract

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 Award23 Oct 2024
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorIvan Alfaro (Supervisor)

UN SDGs

This student thesis contributes to the following UN Sustainable Development Goals (SDGs)

  1. SDG 8 - Decent Work and Economic Growth
    SDG 8 Decent Work and Economic Growth
  2. SDG 9 - Industry, Innovation, and Infrastructure
    SDG 9 Industry, Innovation, and Infrastructure
  3. SDG 12 - Responsible Consumption and Production
    SDG 12 Responsible Consumption and Production

Keywords

  • Contemporary & modern art
  • Index implementation
  • Asset diversification strategy
  • Market trends
  • Traditional financial assets
  • Alternative assets

Designation

  • Mestrado em Finanças (mestrado internacional)

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