Books
Arturo Cifuentes and Ventura Charlin, The Worth of Art: Financial Tools for the Art Markets, Columbia University Press, New York, September 2023, ISBN: 9780231201780. Silver Medal Winner, 2024 Axiom Business Book Award, Personal Finance / Retirement Planning / Investing https://cup.columbia.edu/book/the-worth-of-art/9780231201780.
Press and Other Media Interviews
Art’s beauty is in the eye of your wealth manager, Financial Times, December 7, 2023, Gillian Tett’s op/ed, that discusses The Worth of Art (book with Ventura Charlin). https://www.ft.com/content/eb3ee7d5-a7f4-4588-8798-8ed41c27971b
De Picasso a los NFT: el glamour, las ventajas y los riesgos del mercado del arte, La Tercera, October 29, 2023 (with Ventura Charlin), interview with Andrés Gómez to discuss the global art market. https://www.latercera.com/la-tercera-domingo/noticia/de-picasso-a-los-nft-el-glamour-las-ventajas-y-los-riesgos-del-mercado-del-arte/VWZ4ONCTRFADLN6BZ527FEA72Q/
The Worth of Art, part of the Behind the Book series, a conversation with J-L Rosenthal, California Institute of Technology, October, 2023. https://www.youtube.com/watch?v=MilTlGvYOVg
Art Breaker: The Worth of Art: Financial Tools for the Art Market, a conversation with Amelia Manderscheid, October, 2023. https://podcasts.apple.com/fr/podcast/the-worth-of-art-financial-tools-for-the-art/id1577634606?i=1000632623508
The Worth of Art, The Iconographer, conversation with Shayan van Waalwijk van Doorn, September, 2023. https://www.youtube.com/watch?v=U_mvDq48_8Y
Interview with Andrew Keen, Keen ON, August, 2023. https://www.youtube.com/watch?v=KVkAYhzvmZs
Q&A: Arturo Cifuentes and Ventura Charlin on The Worth of Art, interview with the staff of the Columbia University Press blog, August 2023. https://cupblog.org/2023/08/09/qa-arturo-cifuentes-and-ventura-charlin-on-the-worth-of-art/
Teaching
Columbia University, New York (2016 — 2019)
Adjunct Professor, Division of Finance & Economics
Designed and taught the course “Finance & the Art Markets”, an innovative and very popular elective course for the MBA program. The course focused on the application of financial tools and techniques to analyze the art markets.
Refereed Papers in Academic Journals
Adding Art to Your Portfolio: A New Risk-Assessment Framework, (with V. Charlin), The Journal of Wealth Management, Fall 2023, 26(2), 67-82. DOI: 10.3905/jwm.2023.1.217
Price, Perception and Preference: The Importance of Color in Albers’s Homage to the Square Series, (with V. Charlin), Art & Perception, May 2021, 9(3), 199-219. DOI: 10.1163/22134913-bja10025.
A General Framework to Study the Price-Color Relationship in Paintings with an Application to Mark Rothko Rectangular Series, (with V. Charlin), COLOR Research & Application, July 2020. DOI: 10.1002/col.22559
Art-secured Lending: a Risk Analysis Framework, (with V. Charlin), Journal of Credit Risk, June 2020, Vol. 16(2), pp. 63-97. DOI: 10.21314/JCR.2020.261
An options-based approach to analyze auction guarantees in the art market, (with V. Charlin), North American Journal of Economics and Finance, Vol. 51, January 2020. DOI: 10.1016/j.najef.2019.101094
On the Uncertainty of Art Market Returns (with V. Charlin), Finance Research Letters, May 2017, Vol. 21, pp. 186-189. Published online December 2016. DOI: 10.1016/j.frl.2016.12.005
On the Correlation Between Stocks and Art Market Returns, (with V. Charlin), Applied Economics Letters, 2017, Vol. 24( 2), pp. 128-131. Published online April 2016. DOI: 10.1080/13504851.2016.1170924
An Investor-Oriented Metric for the Art Market, (with V. Charlin), Journal of Alternative Investments, Vol. 17(1), 2014, pp. 87-101. DOI: 10.3905/jai.2014.17.1.087
Submitted & Working Papers
Looking at a second generation of Abstract Expressionists: Mitchell and Frankenthaler, (with V. Charlin), working paper.
Conference Presentations & Invited Talks
The Worth of Art: Financial Tools for the Art Markets, (with V. Charlin), invited talk, Christie’s, New York, October, 2023.
The Worth of Art: Financial Tools for the Art Markets, (with V. Charlin), Clapes UC Seminar, Patricia Ready Art Gallery, Santiago, Chile, August, 2023.
The Worth of Art: Financial Tools for the Art Markets, (with V. Charlin), invited talk, Larraín Vial, Wealth Management Division, Santiago, Chile, August, 2023.
Investing in Picasso: What Have We Learned?, Bloomberg Financial Engineering Seminar, New York, June, 2023.
Price and Color Preferences in Josef Albers Square Series, Bloomberg Quant (Zoom) Seminar, New York, October 2020.
Finance & the Art Market, invited talk, Georgia State University, Finance Department, Atlanta, March 2020.
Art-Secured Lending: a General Approach to Estimate Risk, Bloomberg Quant Seminar, New York, October 2019.
Art as an Alternative Investment, panel discussion, Columbia Business School Alumni Seminar, New York, October 2019. more information
Pricing Beauty: Is It Risky to Invest in Art? Columbia Global Center Conference, Santiago, Chile, September 2019. more information
Pricing Art Guarantees in the Art Market, Bloomberg Quant Seminar, New York, June 2019.
Price and Color: The Paintings of Mark Rothko, Bloomberg Quant Seminar, New York, October 2018.
Finance and the Art Markets, Annual Meeting, Chilean Association of Investment Funds, Viña del Mar, Chile, September 2018.
Finance & the Art Markets, Harvard University Club, Art Experts Symposia Seminar, New York, June 2018. more information
Paintings Are Just Expensive Real Estate, talk presented at the Bloomberg Quant Seminar, New York, November 2016.
Dollars and Sense in the Art Market, The 18th Cultural Economics Conference, Montreal, Canada, June 2014.
The Capital Asset Pricing Model (CAPM) Applied to Paintings, The 18th Cultural Economics Conference, Montreal, Canada, June 2014.
Art Market Returns: Misgivings and Certainties, The 18th Cultural Economics Conference, Montreal, Canada, June 2014.