Author: Aleksandr A. Metzger, Cand. Sc. (Eng.), General Director

Abstract: The author attempts to systematize investment forms and methods in the art market in terms of transaction and agency costs minimization. The characteristics influencing the choice of investment form are specified and conditions for the application of different types of the investment funds of art treasures are determined.

Keywords: art market; individual and collective investment; transaction costs; agency costs; investment fund; corporate governance model.