Returns on art

Felix Salmon » Blog Archive » Returns on art Blogs : "Luc Renneboog and Christophe Spaenjers of Tilburg University have done their own analysis of the art market, and conclude: "Our art index has underperformed stocks since 1951 and bonds over the last quarter of a century (but at a higher risk). Moreover, there are high transaction costs associated with trading art, which reduce the reported returns. When considering the low profitability and the high riskiness of art investments, one can only conclude that art should primarily be bought for its beauty."