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  • Course Dates & Fees / 课程日期&费用

    Course Dates & Fees / 课程日期&费用

    April 6 - May 31
    4 月 6 日 - 5 月 31 日

    $2800
    Tuition includes eight weeks of instructor guidance and an additional 90 days to review the course at your leisure.
    学费包含8周的讲师指导和课程结束后90天内的课程回看权限。
  • How It Works / 具体信息 开始&如何操作

    How It Works / 具体信息 开始&如何操作

    SIA Online Community, our learning and networking space, opens two weeks before the course begins. This space provides an opportunity to familiarize yourself with the learning platform and introduce yourself to fellow students from around the world.
    Visit our How It Works page to learn more about the online learning experience.
    我们的在线学习交流平台SIA在线社区 将于课程开始前两周开放,以便学员提前熟悉学习该平台、并向来自世界各地的同学介绍自己。
    请访问“如何操作”页面了解更多关于线上学习的信息。
  • Sample Topics / 课程主题范例

    Sample Topics / 课程主题范例

    Week 1: Introduction to Art Markets
    • Introduction: What is art in a global economic context?
    • A Brief History of Art Markets
    • Primary vs. Secondary markets
    • Key stakeholders in the Art Market
    • Art Markets in a wider economic context
    • Globalization of Demand and Supply
    • Introduction to art economics & finance
    • Introduction to Art Business Models (For-Profit and Non-Profit)
    Week 2: Introduction to Finance
    • A brief history of finance, overview of financial markets, time value of money
    • Present value and net present value, introduction to risk and return.
    • Understanding Investment Portfolio Diversification (Systemic Risk vs. Unsystemic Risk)
    Week 3: Transacting in the Art Market
    • Assessing Value: Identifying Components (Current Value, Initial Value, Shows, Fairs, Collectors, Museums, Patrons, Age, Condition, Artist Catalog, Speed of Sale)
    • Pricing: Methods of Price Discovery (Comparables, Trends, Players, Exposure, Appraisal)
    • Buying at Auction (Buyer’s premium, seller’s commission, auction guarantees)
    • Rules and Regulations
    • Strategies for collection building
    • Non-Profit finance: Private art foundations and museums
    Week 4: Art as an Asset Class
    • Differences between Art and Other Assets
    • Estimating Returns for Art Assets (Compound Annual Growth Rate etc.)
    • Market Indices: Basic Concepts
    • Review of Art-Related Indices (Mei Moses and others)
    • Art Databases
    Week 5: Art Funds and Other Art-Related Investment Vehicles
    • History of Art Funds
    • Art funds today, and tomorrow
    • Art Assets: Risk, Return, and Correlation with other Assets
    • Art as collateral (Secured Lending)
    • Investing in art: Dos & Don'ts
    Week 6: The Future of Art & Finance
    • Blockchain
    • Digital platforms
    • Re-inventing the art market
    Week 7: Cultural and Creative Industry Investment

    • Cultural and Creative Industry Investment Motivation

    • Equity Investment

    • Valuation of Cultural and Creative Media Industry

    • Risk Management of

    • Equity Investment in Cultural and Creative Media Industry


    Week 8: Art Investment

    • Art Investment Motivation

    • Valuation of Art Asset Investment

    • Risk Management of Art Investment


    第一周:艺术市场概要
    ● 介绍:在全球经济背景下,什么是艺术?
    ● 艺术市场简史
    ● 一级市场与二级市场
    ● 艺术市场中的主要利益相关者
    ● 在更广泛的经济背景下的艺术市场
    ● 需求和供应的全球化
    ● 艺术经济与金融介绍
    ● 艺术商业模式介绍(营利性和非营利性)
    第二周:金融概要
    ● 金融简史,金融市场概述,货币的时效价值
    ● 现值和净现值,风险和收益的介绍
    ● 了解投资组合的多样化(系统性风险与非系统性风险)
    第三周:艺术市场上的交易
    ● 价值评估:识别组成部分(当前价值、初始价值、展览、博览会、收藏家、博物馆、赞助人、年龄、条件、艺术家目录、销售速度)
    ● 定价:拟定价格的方法(对比、趋势、参与者、曝光度、评估)
    ● 在拍卖会上的交易(买方的溢价、卖方的佣金、拍卖担保)
    ● 规则和条例
    ● 收藏策略
    ● 非营利性金融:私人艺术基金会和美术馆
    第四周:艺术作为一种资产类别
    ● 艺术品和其他资产的区别
    ● 估算艺术品的资产回报(复合年增长率等)
    ● 市场指数:基本概念
    ● 艺术品相关指数的回顾(Mei Moses和其他)
    ● 艺术数据库
    第五周:艺术基金和其他与艺术相关的投资手段
    ● 艺术基金的历史
    ● 艺术基金的今天和明天
    ● 艺术资产:风险、回报以及与其他资产的关联性
    ● 艺术品作为抵押品(担保借贷)
    ● 艺术品投资:该做的和不该做的
    第六周:艺术金融的未来
    ● 区块链
    ● 数字平台
    ● 重塑艺术市场
    第七周 文创产业投资

    • 文创产业投资动机

    • 文创传媒产业股权投资估值

    • 文创传媒产业股权投资风险管理


    第八周 艺术品投资

    • 艺术品投资动机

    • 艺术品资产投资估值

    • 艺术品投资的风险管理

  • Faculty / 师资介绍

    Faculty / 师资介绍

    Lawrence S. Motz
    Adjunct Faculty, MA, New York
    B.S.E., Arizona State University
    M.B.A, Columbia Business School
    A.L.M., Harvard University
    Lawrence S. Motz
    副教授,文科硕士,纽约
    亚利桑那州立大学,工程学士
    哥伦比亚商学院,工商管理硕士
    哈佛大学,文科硕士
    Originally from Alaska, Lawrence Motz obtained a BS in Engineering from Arizona State University in 1989, an MBA in Finance and Accounting from Columbia Business School in 1993, and ALM in Museum Studies from Harvard University in 2011. Upon graduation from business school, Motz became an institutional emerging markets bond trader and later an investment banker with Prudential Securities, PaineWebber (UBS), and Kaufman Brothers, a boutique investment bank specializing in telecommunications. During that time, he also co-founded and served as CFO of eNet China, an early online Internet retailer headquartered in Beijing, China.
    Lawrence Motz来自美国阿拉斯加州,1989年获得亚利桑那州立大学工程学士学位,1993年获得哥伦比亚商学院金融与会计工商管理学硕士学位,之后于2011年获得哈佛大学博物馆研究文学硕士学位。从商学院毕业后,Motz成为机构的一名新兴市场债券交易员,后来又在保诚证券、瑞银普惠和考夫曼兄弟(一家专门从事电信业务的精品投资银行)先后担任投资银行家。在此期间,他还共同创立了硅谷动力,并担任中国首席财务官。硅谷动力是一家成立很早的在线互联网零售商,总部位于中国北京。
    Turning his attention to nonprofit finance and museums, Motz joined the Metropolitan Museum of Art in New York City in 2009, where he held the position of Asset/Liability Manager until 2015. During his tenure, Motz created the museum's debt policy, the endowment spending policy formula, and successfully managed the organization's first ever long-dated taxable corporate bond offering.
    在非营利金融和博物馆方面,2009年至2015年,他担任纽约大都会艺术博物馆的资产/负债经理。在任期内,Motz制定了博物馆的债务政策和捐赠开支的政策方案,并顺利地统筹完成了博物馆有史以来第一次长期的应税公司债券发行。
    Motz received two honors of distinction at Harvard University's commencement in 2012. He both served as Class Marshal and won the Dean's Outstanding Thesis Prize with his thesis entitled, Understanding and Developing Appropriate Museum Debt Policy: Practical Capital Structure Analysis for Museums. Since 2015, Motz has been an Adjunct Professor at Harvard teaching two courses in the Museum Studies department: The Business of Museums and Endowments of Cultural Institutions. Motz holds the professional designation of Chartered Financial Analyst and is a member of the New York Society of Securities Analysts.
    2012年,Motz在哈佛大学毕业典礼上获得了两项杰出的荣誉。他既担任Class Marshal年级长,又以其题为《理解和改善适当的博物馆债务政策:博物馆的实际资本结构分析》 的论文获得院长优秀论文奖。自2015年以来,Motz一直是哈佛大学博物馆研究系的副教授,他教授两门课程:博物馆业务和文化机构捐赠。Motz拥有特许金融分析师的专业称号,也是纽约证券分析师协会的成员。
    Lu Yao, Professor, Vice Chair, Department of Finance, School of Economics and Management, Tsinghua University
    Professor Lu received her doctoral degree in Business Economics from Stephen M. Ross School of Business, University of Michigan – Ann Arbor. Her research focuses on Corporate Finance, Labor and Finance, Mergers and Acquisitions, Corporate Governance, Law and Finance, Financial Market Development, Corporate Governance Reforms and International Financial Markets.
    陆瑶,清华大学经管学院金融系(长聘)教授,副系主任
    陆瑶教授于美国密歇根大学-安娜堡分校罗斯商学院获博士学位,主要研究领域为公司治理,企业并购与重组,企业投资与融资,技术变革对企业投融资以及发展的影响,资本市场改革与发展等。
  • Course Completion / 结业

    Course Completion / 结业

    For successfully completing this course, you receive a verified Certificate of Completion from Sotheby’s Institute of Art as well as 7.6 IACET Continuing Education Units. *
    Our digital certificates allow you to share new skills with various social media platforms, including LinkedIn. Successful completion is defined by each instructor in the course syllabus and consists, at the least, of regular, thoughtful participation in online activities and timely submission of assigned papers or projects.
    *As an IACET Accredited Provider, Sotheby’s Institute of Art offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard.
    成功完成本课程后,您将获得由苏富比艺术学院认证颁发的结业证书,以及7.6个IACET继续教育学分。*
    你可以在包括领英等多个社交媒体平台上分享你的电子证书。通过课程的结业条件由每个导师在课程大纲中明确要求,至少包括定期、认真地参与线上活动和及时提交指定的论文或项目。
    *作为IACET认证机构,苏富比艺术学院为其符合ANSI/IACET继续教育和培训标准的学习活动提供IACET继续教育学分。
  • Register / 注册报名

    Register / 注册报名


    This course is now closed.
    View Terms and Conditions
    Questions? Contact us at online@sia.edu.
    查看条款和条件
    如有疑问,请通过online@sia.edu联系我们。