{"product_id":"fine-art-and-high-finance-isbn-9781576603338","title":"Fine Art and High Finance","description":"Art and finance coalesce in the elite world of fine art collecting and investing. Investors and collectors can’t protect and profit from their collections without grappling with a range of complex issues like risk, insurance, restoration, and conservation. They require intimate knowledge not only of art but also of finance.\u003cbr\u003e \u003cbr\u003e Clare McAndrew and a highly qualified team of contributors explain the most difficult financial matters facing art investors. Key topics include:  \u003cul\u003e \u003cli\u003eAppraisal and valuation\u003c\/li\u003e \u003cli\u003eArt as loan collateral\u003c\/li\u003e \u003cli\u003eSecuritization and taxation\u003c\/li\u003e \u003cli\u003eInvesting in art funds\u003c\/li\u003e \u003cli\u003eInsurance\u003c\/li\u003e \u003cli\u003eThe black-market art trade\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eClare McAndrew has a PhD in economics and is the author of \u003ci\u003eThe Art Economy\u003c\/i\u003e. She is considered a leading expert on the economics of art ownership.\u003c\/p\u003e  \u003cb\u003e1 An Introduction to Art and Finance\u003c\/b\u003e (\u003ci\u003eDr. Clare McAndrew\u003c\/i\u003e).  \u003cp\u003e\u003cb\u003e2 Art Appraisals, Prices, and Valuations\u003c\/b\u003e (\u003ci\u003eElizabeth von Habsburg and Rachel Goodman, Gurr Johns;  and Dr. Clare McAndrew\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eHow, where, and when people buy art and what they do with it.\u003c\/p\u003e \u003cp\u003eThe economics of the art market: supply, demand, and price determination.\u003c\/p\u003e \u003cp\u003eValuation and appraisal issues; art as a financial asset; quantitative and qualitative issues.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Art Price Indices\u003c\/b\u003e (\u003ci\u003eDr. Roman Kräussl\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eInvestment returns to art; assessment of performance between assets and over time.\u003c\/p\u003e \u003cp\u003eArt price indices—methods and debates.\u003c\/p\u003e \u003cp\u003eArt data.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Art Risk\u003c\/b\u003e (\u003ci\u003eDr. Clare McAndrew and Dr. Rachel Campbell\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eInvestment risk.\u003c\/p\u003e \u003cp\u003ePortfolio diversification.\u003c\/p\u003e \u003cp\u003eRisk management.\u003c\/p\u003e \u003cp\u003eCredit default swaps.\u003c\/p\u003e \u003cp\u003eDerivatives and structured products.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Art Banking\u003c\/b\u003e (\u003ci\u003eSuzanne Gyorgy, Citi; and Dr. Clare McAndrew\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eArt as collateral and downside risk.\u003c\/p\u003e \u003cp\u003eArt lending: history and current practices.\u003c\/p\u003e \u003cp\u003eArt financing solutions: comparative review of banks, auction houses, galleries, and others.\u003c\/p\u003e \u003cp\u003eThe future of art banking.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Art Funds\u003c\/b\u003e (\u003ci\u003eJeremy Eckstein, Randall Willette, and Dr. Clare McAndrew\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eArt funds: history and motivations.\u003c\/p\u003e \u003cp\u003eArt funds today: different methods and approaches.\u003c\/p\u003e \u003cp\u003eStrategies: sector allocation, opportunity funds, and hedge funds.\u003c\/p\u003e \u003cp\u003eCurrent status of the market.\u003c\/p\u003e \u003cp\u003eFuture outlook.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 The Government and the Art Trade\u003c\/b\u003e (\u003ci\u003eDr. Clare McAndrew; Rena Neville, Sotheby's NY; Anthony Browne, BAMF\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eRole of the government in the art market.\u003c\/p\u003e \u003cp\u003eArt and the national patrimony.\u003c\/p\u003e \u003cp\u003eTrade restrictions and investment issues.\u003c\/p\u003e \u003cp\u003eU.S. relationship between art and government.\u003c\/p\u003e \u003cp\u003eU.K. relationship between art and government.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Insurance and the Art Market\u003c\/b\u003e (\u003ci\u003eChristiane Fischer and Jill Arnold, AXA\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eArt as a real asset: risk issues and the insurance market.\u003c\/p\u003e \u003cp\u003eInsurance and the art market: history, practice, and methods.\u003c\/p\u003e \u003cp\u003eArt appraisal and valuation issues.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Art and Taxation in the United States\u003c\/b\u003e (\u003ci\u003eRalph E. Lerner, Withers\u003c\/i\u003e).\u003cbr\u003e Tax and the art market: global investment and the tax nexus.\u003c\/p\u003e \u003cp\u003eIncome tax implications.\u003c\/p\u003e \u003cp\u003eTransferring wealth: capital gains and inheritance tax.\u003c\/p\u003e \u003cp\u003eWealth taxes.\u003c\/p\u003e \u003cp\u003eVAT and trading taxes.\u003c\/p\u003e \u003cp\u003eEstate planning and the legal implications of inheriting, selling, and bequeathing art; divorce situations; prenuptial agreements; division among heirs.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Art and Taxation in the United Kingdom and Beyond\u003c\/b\u003e (\u003ci\u003ePierre Valentin, Philip Munro, and Samantha Morgan, Withers\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eThe UK tax system.\u003c\/p\u003e \u003cp\u003eDirect taxes: income tax, capital gains tax and corporate tax.\u003c\/p\u003e \u003cp\u003eIndirect taxes: VAT.\u003c\/p\u003e \u003cp\u003eWealth tax.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Art Conservation and Restoration\u003c\/b\u003e (\u003ci\u003eBarbara A. Ramsay and John K. Jacobs, Artex\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eConservation versus restoration versus preservation.\u003c\/p\u003e \u003cp\u003eCost and return implications.\u003c\/p\u003e \u003cp\u003eMethods, practices, and services.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 The Illegal Art Trade\u003c\/b\u003e (\u003ci\u003eCharles T. Danziger and Thomas C. Danziger\u003c\/i\u003e).\u003c\/p\u003e \u003cp\u003eThe black and grey markets for works of art.\u003c\/p\u003e \u003cp\u003eProvenance, fakes, and forgeries.\u003c\/p\u003e \u003cp\u003eIllegal import and export, repatriation, export licensing, and the national patrimony.\u003c\/p\u003e \u003cp\u003eArt theft and stolen art: issues and anecdotes.\u003c\/p\u003e \u003cp\u003eThe global movement of works of art: legal and illegal, repatriation, art and conflict.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndex.\u003c\/b\u003e\u003c\/p\u003e \u003cb\u003eDr. Clare McAndrew\u003c\/b\u003e is a cultural economist, investment analyst, and published author. Clare completed her PhD in economics at Trinity College Dublin in 2001, where she also lectured and taught economics for four years. She then led a number of research projects for the Arts Council of the U.K., publishing studies on the effects of regulation, taxation and other issues in the visual arts market. In 2002, Clare joined U.S. firm Kusin \u0026amp; Company, a boutique investment banking firm specializing in art investment, as chief economist where she worked for three years. She returned to Ireland in 2005, and continued her work in the art market in a private consulting capacity with a global client base. Clare founded Arts Economics in 2007 to focus her efforts on art market research and analysis, and works with a network of private consultants and academic researchers in providing research and consulting services to the global art trade and financial sector.","brand":"Bloomberg Press","offers":[{"title":"Default Title","offer_id":47989214052581,"sku":"NP9781576603338","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781576603338.jpg?v=1761783233","url":"https:\/\/k12savings.com\/es\/products\/fine-art-and-high-finance-isbn-9781576603338","provider":"K12savings","version":"1.0","type":"link"}