【作者】 张进；

【导师】 陈建国； 符建名；

【作者基本信息】 华南理工大学 ， 项目管理， 2011， 硕士

【摘要】 一个没有资本介入的市场,是没有前途的。从世界艺术品市场的经验看,资本的介入程度往往标志着艺术品市场的规模及成熟程度。在国际资本市场中,艺术品本身就是准金融产品,是继股票和房地产之后的第三个重要的投资品种。在我国目前至少有7000万参与者,并且受关注的热度持续走高。2010年中国艺术品市场总成交额超过1500亿元,占全球艺术品销售额的33%,居全球第一。艺术品投资行业出现了广阔的发展前景,我国的艺术品证券化正处于历史发展的关键时期,然而,目前关于我国艺术品证券化发展方面的研究极为鲜见,即使是欧美发达国家对艺术品份额交易的研究也是空白。本文从中国艺术品市场的产业链分析入手,客观分析了中国艺术品市场目前的状况,分析了现阶段中国艺术品投资及艺术品证券化的主要模式,着重分析了艺术品基金和艺术品产权交易的交易平台和交易模式。揭示了我国艺术品市场现阶段存在艺术品定价机制混乱,艺术品交易市场交易机制存在严重缺陷,法律法规依据不足等问题。针对此现象进行了艺术品基金和艺术品份额交易模式的设计,本文创新性的提出了孳息分红运用在艺术品份额交易中,并且在两种交易模式的设计上都考虑和完善了监督体制。最后总结艺术品投资具有流动性差,相关性小,收益性高,专业性强等特点,结合艺术品市场存在的问题提出了政策建议。更多还原

【Abstract】 There is no future that no capital involved in a market. From the worldwide art market experiences, capital intervention degree in art market generally indicates the size and maturity of art market. In the international capital markets, art itself is a quasi-financial product, as the third important investment products following the stock and real estate. There are at least 70 million participants in China and their concerns continued to rise. In Chinese art market in 2010, the total turnover is more than 50 billion yuan, accounting for 33% of the global art sales, ranking first in the world. Art investment industry has a broad development prospects. China’s art securitizing is in the historical critical period of development, however, temporally the research of China’s art securitizing development is extremely rare, even in developed countries including Europe and America the research of art quotient transactions is blank.This paper started from analyzing the Chinese art market industry chain, objectively analyzing the current situation of Chinese art market, the stage of art Chinese art investment and the main mode of art securitization, focusing on analysis of trading platform and trading mode of art funds and art trading property rights. It revealed the existing problems of present China’s art market such as art pricing mechanism confusion; art market and trading mechanism had seriously flawed; inadequate laws and regulations based on such issues. For this phenomenon, it designed the trading patterns of the art funds and art quotient, innovative raised a proposal of dividend yield in the art quotient transaction. It concluded the art investment features such as poor floating, associated little, high income, and professional, provided policy recommendations combined with problems in the art market更多还原