Date of Award
Spring 2020
Degree Name
Bachelor of Science (BS)
Advisor(s)
Kevin Mirabile
Abstract
This paper examines the risk-return characteristics of the art market and financial markets over the period 2000 to 2019. The art markets explored include Contemporary, Old Masters, and All Art while the financial markets consist of the S&P 500 and 90-day treasury bill. In accordance with existing research, this paper affirms that, given the risk, returns on paintings are not significant enough to provide excess returns over the S&P 500, although, both Contemporary and All Art indices generate significant alpha in an investment portfolio.
Recommended Citation
Berardino, Christina, "The Merits of Investing in Art" (2020). Gabelli School of Business Honors Thesis Collection. 84.
https://research.library.fordham.edu/gabelli_thesis/84
