Research On The Function Of Artwork In Wealth Management

The return expectation of art-finance products largely depends on investors' recognition of art between its asset and capital characters.However,relevant practitioners in the art market have not paid enough attention to the unique economic attributes of artworks in practice,which is one of the main reasons for the huge gap between the theoretical research and the business practice in the art market,Artwork and the capital market are not mutually adaptive and only on the basis of maintaining their own heterogeneity can they positively participate in each other' s construction in deed.This paper attempts to establish the relationship between artwork and wealth management on the basis of distinguishing between artworks'assets and capital economic attributes,and then discusses it from the perspective of product and service.Through the method of inductive analysis and case study,starting from sorting out the development and the trend of art fund as the mainstream art investment instrument,this paper takes the family trust as the way of studying,discussing the constructive function of art assets in wealth management and inheritance.Taking "The Getty" as an example,this paper introduces the establishment of an art wealth system and its achievable impact from various perspectives.Finally,it illustrates fundamental concepts which consist an art wealth system and tries to design the framework of the family trust with artworks by the inspiration from the the connotation of Impact Investment in the field of public welfare and charity.This paper takes the value orientation of artworks as the core,and attempts to establish the theoretical support of artworks from price receivers to value discoverers and then to value shapers through the integration of internality and externality,which may serve as a reference for the future development of wealth management.