Title:
Art Collectors as Angel Investors: A Brazilian Collection

Authors:
Thierry Chemalle, Alexandre Caixeta Spinola, Brazil

Abstract:

The literature on measuring returns on art investments typically aims to understand the characteristics of art as an investment class and whether investing in art can yield good returns for an investor and their portfolio. This literature places less emphasis on how the risk taken in the creation of art is assumed and borne by the agents who compose this market. Inspired by the publication “Art Collectors as Angel Investors” (2023) by Whitaker and Kräussl, this study examines a real collection of a Brazilian collector to verify whether the investment strategy employed in the purchase and sale of the works in the collection aligns with the definition of an angel investor presented in the reference article.

DOI: https://doi.org/10.51505/IJEBMR.2024.8808