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North American art and modern forms of investment


North American art and modern forms of investment

Ralevski, Olivia (2007) North American art and modern forms of investment. Masters thesis, Concordia University.

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The relationship between art and commerce has a very long history dating back to ancient Rome. Traditionally, art was enjoyed not only for financial gains but for decorative purposes, as a sign of social prestige or religious morality and most for aesthetic pleasure. However, in recent decades, the emergence of art solely as a speculative asset has not only raised questions but also fears about the negative impact it will have on artwork. Some believe that art has become as immaterial as stocks traded on the stock market with their aesthetic value rendered meaningless. The purpose of this study is to examine the development of two new types of art investment strategies which have modified the role of art as a commodity: art in investment portfolios and art-investment funds. More precisely, this study will situate these developments in a North American context, focusing on how American and Canadian art might function in an investment portfolio and an art-investment fund. While American and Canadian art is not used as a tool for diversification in a traditional investment portfolio, American art-investment funds are prevalent but as yet for the most part unsuccessful. Therefore, since art's development as a strong alternative asset class is still in its early stages, it is somewhat early to predict the full impact these modern types of investments will have on the North American art world.

Divisions:Concordia University > Faculty of Fine Arts > Art History
Item Type:Thesis (Masters)
Authors:Ralevski, Olivia
Pagination:vi, 186 leaves : ill. ; 29 cm.
Institution:Concordia University
Degree Name:M.A.
Program:Art History
Thesis Supervisor(s):Belisle, Jean
Identification Number:LE 3 C66A35M 2007 R35
ID Code:975611
Deposited By: Concordia University Library
Deposited On:22 Jan 2013 16:11
Last Modified:13 Jul 2020 20:08
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