Analysis of the Art Market as a Financial Market

Author

Kelley A. Radican, Fontbonne College

Year of Award

1992

Degree

Master of Business Administration (MBA)

College

College of Business & Professional Studies

Degree Program

Business Administration

Department

Business Administration

Keywords

collectables, auction, globalization, paintings

Abstract

In the mid 1970s, very few people thought of art as an investment. Several economic, demographic, and cultural trends began to converge in the late 1970s to change the art world almost beyond recognition: the coming of age of the “baby-boom” generation - popularization of the art museums, an American society becoming more conscious of fine cuisine, fashion and fine art - “Europeanized,” and the economic fuel of the inflation panic in the late 1970s to early 1980s. The result was the investment of monies into tangible assets such as art. In addition, the marketing surge of auction houses and promotion from business magazines supported this change of consciousness in the art market.

Buying art was no longer perceived as a pure luxury. It actually made business sense. A whole new generation of collectors emerged, who perceived of buying art as solid-assets, not merely indulgence. The increased competition among buyers, and the vastly increased speed of the art market, has led many of the most active collectors to employ professional art advisors to help them sort out the opportunities and help them make decisions. Whatever the state of the economy, art market enterprise will remain a rare and desirable commodity.

Comments

This thesis has been selected for its superior quality, and is suggested as a good example for MBA students to follow.

Document Type

Restricted Thesis

Recommended Citation

Radican, Kelley A., "Analysis of the Art Market as a Financial Market" (1992). All Theses, Dissertations, and Capstone Projects. 358.
https://griffinshare.fontbonne.edu/all-etds/358