Collectible Investments for the High Net Worth Investor

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.

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

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

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.