The Portuguese contemporary art as an investment

In this paper we investigate what drives the prices of Portuguese contemporary art at auction and explore the potential of art as an asset. Based on a hedonic prices model we construct an Art Price Index as a proxy for the Portuguese contemporary art market over the period of 1994 to 2014. A performance analysis suggests that art underperforms the S&P500 but overperforms the Portuguese stock market and American Government bonds. However, It does it at the cost of higher risk. Results also show that art as low correlation with financial markets, evidencing some potential in risk mitigation when added to traditional equity portfolios.

Arts management

For the purpose of analyzing how did the considerable increase in the Portuguese tourism has influenced its cultural sector, this paper seeks to explore how has the company AntiFrame | Art Consulting replied to it. Arts Management: Contemporary Art Guides. Alibi – The Portuguese Case reviews some Arts Management literature whilst a multi-method approach is used. A market research was conducted, in which existing contemporary guides were analyzed as well as interviews made to tourists in Lisbon. Findings show that there is a flaw in the Portuguese contemporary art market, which the project Alibi aims to solve. Metrics on how the project’s results should be monitored, as part of a follow-up phase, were included, as well as limitations.