Book DescriptionMany high net worth individuals are interested in diversifying their portfolios and investing in collectibles. A collectible is any physical asset that appreciates in value over time because it is rare or desired by many. Stamps, coins, fine art, antiques, books, and wine are examples of collectibles. Where does the financial advisor or investment manager for these high net worth individuals go to learn about these investments? There is no comprehensive resource from the financial standpoint--until now. Dr Stephen Satchell of Trinity College, Cambridge, has developed a book in which experts in various types of collectibles analyze the financial aspects of investing in these collectibles. Chapters address issues such as: liquidity challenges, tax ramifications, appreciation timelines, the challenge of forecasting and measuring appreciation, and the psychological component of collecting and the role of emotion in collectible investing.
Feature: Contributors are experts in collectible investing from around the world
Benefit: Gives financial advisors and wealth managers handy access to expert opinions to better advise clients interested in collectible investments
Feature: Experts discuss the pros and cons of collectibles from an investment perspective in their area of expertise
Benefit: One stop shopping, all expertise brought together in one volume, creating a handy reference guide
Feature: Experts discuss art, stamps, coins, antiques, wine, from around the world in one global perspective
Benefit: Wealth managers can gain information about a wide range of collectibles and learn about investing in these types with a global perspective
Table of Contents
- Brief Table of Contents
- Table of Contents
- List of Figures
- List of Tables
- List of Contributors
Part One. General Themes
Chapter . The Role of High Net Worth Investment Managers in Collectible Investing for Their Clients
- High Net Worth Managers and Family Offices
- The Nature of Relationships between Client and Manager
- Investment Methods for Collectibles Favored by Managers
- Incorporating Art Indexes into an Investment Portfolio
- Tools Used for Building High Net Worth Portfolios
- High Net Worth Investment Managers on the Pros and Cons of Putting Collectibles into Client Portfolios
- The Positives of Collectible Investments
- Chapter . The Neuropsychology of the Collector
- Chapter . Collecting and Behavioral Finance
- Chapter . Collecting as Luxury Consumption: Effects on Individuals and Households
- Chapter . The Role of High Net Worth Investment Managers in Collectible Investing for Their Clients
Part Two. Major Collectibles Related to Investing
Chapter . An Overview of the Art Market
- How Are Works of Art Different from Stocks, Bonds, and Commodities?
- What Is the Size of the Art Economy?
- What Constitutes a Work of Art?
- What Constitutes “Investible Art”
- What Are the Components of Value?
- How Does the Principle of Supply and Demand Operate in the Art Market?
- Who Are the Buyers, Sellers, and Intermediaries?
- What Transaction Costs Are Associated with Art?
- How Is Art Taxed?
- Can the Financial Performance of the Art Market Be Measured?
- Which Strategies Might Be Successful for Art Investments?
Chapter . Art as a Financial Investment
- Data and Methodology
- Risk and Return
- Portfolio Diversification
- Summary and Conclusions
- Appendix. Index Constituents
Chapter . Art Investing and Wealth Accumulation
- Literature Review
- The Model
- Empirical Analysis
- Appendix. Art Market Research Index Components
Chapter . Investing in Rare Books
- Why Collect?
- Who Collects?
- Books as Collectibles
- The Market for Books
- Return and Risk of Book Collecting
- Chapter . Maps as Collectibles
Chapter . Collecting and Investing in Stamps
- A Very Brief History of Philately
- The Economics of Philately
- The Psychology of Philately
- The Finance of Philately
- Setting Up a Hedge Fund to Provide Stamps for Clients
- Appendix. The Mathematics of Building a Stamp Index
- Chapter . Wine: An Alternative Investment
- Chapter . Bordeaux Wine Vintage Quality and the Weather
- Chapter . Collecting Classic Cars
- Chapter . An Overview of the Art Market
- Title: Collectible Investments for the High Net Worth Investor
- Release date: May 2009
- Publisher(s): Academic Press
- ISBN: 9780123745224