Description

Many high net worth individuals are interested in diversifying their portfolios and investing in collectibles. A collectible is any physical asset that appreciates in value over time because it is rare or desired by many. Stamps, coins, fine art, antiques, books, and wine are examples of collectibles. Where does the financial advisor or investment manager for these high net worth individuals go to learn about these investments? There is no comprehensive resource from the financial standpoint--until now. Dr Stephen Satchell of Trinity College, Cambridge, has developed a book in which experts in various types of collectibles analyze the financial aspects of investing in these collectibles. Chapters address issues such as: liquidity challenges, tax ramifications, appreciation timelines, the challenge of forecasting and measuring appreciation, and the psychological component of collecting and the role of emotion in collectible investing.

Key Features

Key Features Feature: Contributors are experts in collectible investing from around the world Benefit: Gives financial advisors and wealth managers handy access to expert opinions to better advise clients interested in collectible investments Feature: Experts discuss the pros and cons of collectibles from an investment perspective in their area of expertise Benefit: One stop shopping, all expertise brought together in one volume, creating a handy reference guide Feature: Experts discuss art, stamps, coins, antiques, wine, from around the world in one global perspective Benefit: Wealth managers can gain information about a wide range of collectibles and learn about investing in these types with a global perspective

Readership

Wealth Managers and Financial Advisors in Private Bank, Money Management Firms, and Wealth Management Firms, Portfolio Managers and Investment Officers in Money Managemnt Firms, Private Banks, and Wealth Management Firms

Table of Contents

TABLE OF CONTENTS Introduction by Stephen Satchell Part 1: General Themes 1. General Principles in Collectible Investing, Collectibles and Asset Allocation Daryl Roxburgh and Stephen Satchell 2. Why Collectors Collect: The Neuropsychology of the Collector Shirley Mueller 3. Collecting and Behavioral Finance David Johnstone 4. Collecting as Luxury Consumption: Effects on Individuals and Households Russell W. Belk Part 2: Major Collectibles Related to Investing 5. An Overview of the Art Market Jeffery Horvitz 6. Art as a Financial Investment Rachel A. J. Campbell 7. Art Investing and Wealth Accumulation Oliver Williams and Anders Petterson 8. Wine: An Alternative Investment, Introduction to “Bordeaux Wine Vintage Quality and the Weather” by Orley Ashenfelter, David Ashmore, and Robert LaLonde Alan Brown 9. Bordeaux Wine Vintage Quality and the Weather Orley Ashenfelter, David Ashmore, and Robert LaLonde 10. Collecting and Investing in Stamps Stephen Satchell and John F. Aulds 11. Investing in Rare Books Andrew T. Rudd 12. Maps as Collectibles Adam J. Apt

Details

No. of pages:
280
Language:
English
Copyright:
© 2009
Published:
Imprint:
Academic Press
Print ISBN:
9780123745224
Print ISBN:
9780323165693

About the editor

Stephen Satchell

Stephen Satchell is a Fellow of Trinity College, the Reader in Financial Econometrics at the University of Cambridge and Visiting Professor at Birkbeck College, City University Business School and University of Technology, Sydney. He provides consultancy for a range of city institutions in the broad area of quantitative finance. He has published papers in many journals and has a particular interest in risk.

Affiliations and Expertise

Consultant to financial institutions and Reader in Financial Econometrics at Trinity College, Cambridge, Stephen Satchell is Editor-in-Chief of the Journal of Asset Management and Derivatives, Use, Trading, and Regulation. He has edited or authored over 20 books on finance.

Reviews

“As both a dealer and collector, I must say that Collectible Investing for the High Net Worth Investor is one of the most exciting works I have encountered. The editors’ great contribution is to have assembled an impressive panel of experts with one foot each in the parallel worlds of finance and collecting. As a result, this volume is the first I have encountered that offers analytic rigor while remaining grounded in the realities of the market for collectibles, whether they be art, maps, stamps, wine or other valuables.” --Michael Buehler, President, Boston Rare Maps Incorporated "This is an extraordinary book. It brings together a dozen of the most analytically sophisticated minds in investment finance, and turns their considerable expertise to bringing great clarity to the intrinsically qualitative world of collectibles as investments. We are indeed fortunate to have a wealth of rigorous analytical thinking brought to bear on what financial professionals often dismiss as mere hobbies." --Dan diBartolomeo, President, Northfield Information, a market leader in providing investment professionals with analytical and operating efficiency tools to enhance individual portfolio and firm-wide performance “Almost every collector thinks, at least occasionally, about the investment aspect of their collection. The contributors to this book really open the reader's eyes to the breadth of issues -- from the psychological to the financial -- involved in collectibles as investments. Despite the wide variety of collectibles -- from wine to fine art to antiquarian maps -- common themes come out strongly from the writers who explore the investment aspects of each collection type.” --Jeremy Pool, Publisher, Antique Map Price Record "At last a scholarly book that accompanies the thriving market for collectibles. From theoretical articles on topics such as collect