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Art as collateral: Seeking returns f...

Chan, Angelo K. H.

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Art as collateral: Seeking returns from lending vs. owning.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Art as collateral: Seeking returns from lending vs. owning./
Author:	Chan, Angelo K. H.
Description:	67 p.
Notes:	Source: Masters Abstracts International, Volume: 55-01.
Contained By:	Masters Abstracts International55-01(E).
Subject:	Arts management. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1598554
ISBN:	9781339035437

Art as collateral: Seeking returns from lending vs. owning.
Chan, Angelo K. H.

Art as collateral: Seeking returns from lending vs. owning. - 67 p.

Source: Masters Abstracts International, Volume: 55-01.

Thesis (M.A.)--Sotheby's Institute of Art - New York, 2015.

In examining the performance of art as an asset class, prior studies have mainly applied the lens of an owner/equity investor by measuring movements in art prices relative to other risky assets. However, limited research has been done to explore the possibility for investors to generate fixed income returns by offering loans collateralized by works of art. Through a survey of the current market landscape and particular case studies, this thesis examines the supply and demand side factors that drive the heterogeneity in transaction terms in the art collateralized lending market. In addition, this study explores art collateralized lending as an alternative way for investors to access the art market. Using an options-based analytic framework and the Black-Scholes model, a quantitative analysis is carried out to examine whether investors seeking returns from art would find it more attractive to do so as lender or as owner.

ISBN: 9781339035437Subjects--Topical Terms:

3168382
Arts management.

Art as collateral: Seeking returns from lending vs. owning.
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020 $a 9781339035437
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100 1 $a Chan, Angelo K. H. $3 3183625
245 1 0 $a Art as collateral: Seeking returns from lending vs. owning.
300 $a 67 p.
500 $a Source: Masters Abstracts International, Volume: 55-01.
500 $a Adviser: Benjamin Mandel.
502 $a Thesis (M.A.)--Sotheby's Institute of Art - New York, 2015.
520 $a In examining the performance of art as an asset class, prior studies have mainly applied the lens of an owner/equity investor by measuring movements in art prices relative to other risky assets. However, limited research has been done to explore the possibility for investors to generate fixed income returns by offering loans collateralized by works of art. Through a survey of the current market landscape and particular case studies, this thesis examines the supply and demand side factors that drive the heterogeneity in transaction terms in the art collateralized lending market. In addition, this study explores art collateralized lending as an alternative way for investors to access the art market. Using an options-based analytic framework and the Black-Scholes model, a quantitative analysis is carried out to examine whether investors seeking returns from art would find it more attractive to do so as lender or as owner.
590 $a School code: 1588.
650 4 $a Arts management. $3 3168382
650 4 $a Finance. $3 542899
650 4 $a Banking. $2 bicssc $3 1557594
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710 2 $a Sotheby's Institute of Art - New York. $b Art Business. $3 2093254
773 0 $t Masters Abstracts International $g 55-01(E).
790 $a 1588
791 $a M.A.
792 $a 2015
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1598554