With record-breaking auction results making headlines and expanding business models for investing in and financing artworks, fine art is increasingly marketed, collected, and valued as a financial asset. This introductory course will explore the various financial positions possible in today’s art market, including direct purchases, art funds and art exchanges, as well as art lending and the creation of private foundations. Participants will be asked to consider ethical implications deriving from the “financialization” of art and to develop their own perspectives on the relationship between art and commerce. These considerations will inform discussions about art investment (especially speculative), as well as current and future regulation of the art market. This course will introduce basic art and financial market tools and vocabulary, to assist participants in comparing differing expert positions and reviewing market data.
What you will learn…
- To understand the field of art-backed financial products and services, as well as their providers, and the regulatory environment in which they operate.
- To become knowledgable about the dominant arguments for investing in art for “diversified portfolio,” including the debates about art investment performance and the limitations of art indices.
- To engage with the economic debates about fine art's performance as a financial asset and about the art market as a whole.
Please note: this course was previously named Art as an Investment.