Measuring Returns on Investments in Collectibles

Benjamin J. Burton and Joyce Jacobsen ()

Journal of Economic Perspectives, 1999, vol. 13, issue 4, 193-212

Abstract: This paper considers the question of how to measure and interpret the financial return to investing in collectibles. We review various methodologies for creating priced indexes and then discuss studies that explicitly calculate a rate of return to some set of collectibles. While most collectibles appear to yield positive real returns, the majority embody more risk and yield lower financial returns than stocks. Other characteristics of collectibles prices, such as covariance with other asset prices, are also examined.

JEL-codes: D12 Z11 (search for similar items in EconPapers)
Date: 1999
Note: DOI: 10.1257/jep.13.4.193
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Citations: View citations in EconPapers (76)

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