terça-feira, outubro 12, 2004

O mercado ajuda os artistas (UPDATED)

Há muitos anos, eu li "In Praise of Commercial Culture" do economista Tyler Cowen, e gostei muito. Era a primeira vez que eu lia algo tão óbvio (mas tão desconhecido para mim): a relação entre arte e mercado.

Agora leio que uma das opções de investimentos de alguns bancos privados na Cingapura (Singapore, em inglês) é, justamente, investir em arte.

Como funciona? Bem, alguns trechos da notícia talvez ajudem a entender.

Jurg Kaufmann, Executive Director, ABN AMRO Private Bank, said: "Everybody knows about equity and mutual funds, and how they work. An art fund is the same way, you buy a part of a larger class and you hope obviously, that this investment gives you good returns, but you don't have to worry about all the logistical issues."

Meantime, the more established Citigroup art advisory group offers more traditional services, such as advice on art acquisition, sales and art collection management.

But the services are only for high net worth individuals, those with investments of around US$5 million or more.

Alston Beinhorn, MD, Global Market Manager, Citigroup Private Bank, said: "Art funds would be limited to what is purchased in a fund by a fund manager. Whereas, our art advisory services are tailored to an individual collector and investor. So one might buy into an art fund, but he would have no control or say as to what is being bought or collected, perhaps other than strategy or theme."

Private banks say if you're into art as a passion, then collecting is a good idea.


Antigamente, nas aulas de microeconomia, era hábito dos professores dizerem que a teoria (micro)econômica era geral e que não podia ficar explicando exceções como obras de arte. Bem, a tecnologia mudou com o tempo e hoje o correto seria dizer que não podemos mais explicar um mercado que ignore a existência de um ativo tão admirado pelos "intelectuais" como a arte. Aliás, se arte não é explicada economicamente, alguém me explique isto: "Art is a maturing asset class; for many years it has been used as an anti-inflationary tool, offering long-term returns that compare favourably with those from equity and bond markets. Since 1950 art has returned between 11.5 and 12.5 per cent on a compound annual basis". É o próprio ABN Amro Bank quem diz.

Quer saber mais? Procure a página pessoal do prof. Cowen. Você vai gostar.