About us


Artemundi was born out of a rebellious idea and a principled objective: to help our clients build and diversify their investment portfolios without the excessive fees associated with traditional brick-and-mortar art companies while paving the way for more transparent business practices within the industry.

Since our foundation in 1989, Artemundi has evolved into an industry-leading art investment company with thousands of successful transactions and over a billion dollars managed in art. It now has over 32 years of experience providing expert fund and other management services. We know that, beyond its emotional, intellectual, and cultural value, art is a real and tangible asset that appreciates over time.

Fueled by our deep understanding of art as an asset, we help clients properly manage their portfolios to achieve attractive return rates while reducing overall risk.

Raising the bar

Dedicated expertise

Decades of experience and our successful track record set us apart as the only art investment management company with a tested methodology.
We achieve attractive rates of return for investors looking to diversify holdings into tangible assets with performance unrelated to the capital markets.

Rebels by nature

Since 1989, we have grown contrary to traditional brick-and-mortar art businesses that carry huge overheads and excessive fees and commissions often on both ends.


Our track record

Artemundi Global Fund (2010-2015).
For more information about Artemundi Global Fund click HERE.

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Book Value (final)

Gross Return (5 years)
Net Return (5 years)
Average Net Annual Return

From 2016 to 2019, our own and related art investment portfolio was around $100 million AUM per annum. Artemundi produced an average EBITDA over sales of 18.8% during that same period.

Our team

A team with experience & vision.

Our diverse team is integrated by international professionals, art collectors, specialists, and enthusiasts from the United States, Europe, United Kingdom, Mexico, Switzerland, and Brazil, unified by their deep artistic knowledge and their professional dedication towards delivering excellence in the art world.

Javier Lumbreras (USA & Spanish citizen) is an investor, developer, fund manager, philanthropist, and art collector. He is widely recognized as a pioneer in the field of art finance, namely art funds. He is the current chairman of the board of directors of The Art Fund Association in New York.

His 32 years of experience in managing art as an alternative asset, including securitization and portfolio management, as well as art collecting, museum endowments, and art-related estate planning, has earned him frequent invitations to lecture at international forums, including The Alternative Investment Association (CAIA), The Authentication in Art Congress in The Hague, the Sotheby’s Institute at the University of London, the Heckerling Institute on Estate Planning, the Art Investment Forum, the American Appraisers Association and Deloitte’s Art & Finance conferences among others.

Mr. Lumbreras has dedicated years of service to the public as a trustee of various international art museums and other cultural institutions. He has served in leadership positions, including chairman of executive committees and art acquisition/curatorial boards. He is presently working with international cultural leaders, local government, and community authorities in the city of Arévalo, Spain, to establish COLLEGIUM, the first contemporary museum of its kind, dedicated to collection, archival, production and research.

Mr. Lumbreras’ background in art and finance hails from a family lineage of art patrons and collectors traced back to 1881. He and his wife Lorena have continued that legacy with the Adrastus Collection of 21st Century Art. Lumbreras is the author of the book The Art of Collecting Art.

Javier is an art appraiser, member of the AAA, USPAP compliant, and chair of our valuation board.

With deep knowledge in the art market and having directed two contemporary art galleries prior to joining Artemundi in 2015, Giovana Edid leads the strategic business planning, organizational development, operational implementation, and team management to deliver the vision of Artemundi.

Working closely with the Principal, Giovana implements a meticulous examination protocol in order to seize business opportunities that align with Artemundi’s investment strategies including overseeing all inquiries, negotiations, and agreements. She specializes in investment implementation based on the latest market research and is responsible for crafting the company’s public voice through the original editorial content and analysis designed to motivate transparency and knowledge about the art market.

Giovana is an art historian with advanced diplomas in Art Valuation and Cultural Marketing. More recently, she participated in ArtTactic’s continuous education program, receiving Big Data and The Art Market, Artists Market Analysis, and Fair Value Analysis Diplomas, and Christie’s Education course: From Academy to Zoomorphism: An A-Z of Art Terms.

Giovana is an art specialist serving in our valuation board.

Almudena works with the CEO and the Board of Directors on the strategic financial decisions of the company. She performs general accounting, P&L forecast, due-diligence, registry, governance (AML, KYC, UBO), onboarding protocols, and coordinates with legal counsel, fund administrator, and auditor. Her department also processes fund subscriptions, client relationship management, and personal data process.

Prior to joining Artemundi, Almudena was the Finance Manager of Motorola corporate division in Spain and Portugal, reporting directly to the company’s Southern Europe controller. She was principally responsible for cost and financial accounting, annual budgeting, internal auditing, and financial reporting to the corporate headquarters. Almudena has also served as a financial analyst responsible for the reporting of LMPS and Mobile division in Spain, Portugal, and Turkey, also in Motorola. With over 30 years of experience in Financial Management, Almudena holds a B.A. in Economics from Universidad Complutense, an MBA by Instituto de Empresa (IE), and a postgraduate diploma in corporate taxation by the Madrid’s Chamber of Commerce.

Karla coordinates and executes Artemundi’s operational activities required in the development of Artemundi. She acts as a liaison to multiple international logistics companies and allied storage facilities and is fully conversant with all customs clearance requirements. Her expertise in fine art shipping has translated into over a thousand cost-effective freights. Karla also serves as the team’s digital designer combining her creativity and technology proficiency to design and publish websites, marketing materials, and editorial content. Karla is an art historian and holds multiple postgraduate certificates in museum management.

Karla is an art specialist serving in our valuation board.

Angelica Herrera is responsible for the efficient functioning of Artemundi’s day-to-day operations through a range of administrative, financial, and managerial tasks. As a lynchpin of the office, Herrera holds an essential role in balancing office budgets, employment administration, travel requirements, bookkeeping, and taxation standards of Artemundi’s multiple jurisdictions. She is a graduate of the Autonomous University of Mexico in Accounting Studies and holds a postgraduate degree from the University of Buenos Aires in Finance.

Grace specializes in the marketing field, producing and publishing innovative content appealing and user-friendly in Artemundi’s communication platforms. Her degree in Advertising and minor in Public Relations from The Suffolk University in Boston has provided her with creative thinking and excellent communication tools.

Raised speaking both Spanish and English and having visited six of the seven continents of the world, Grace has interacted with a diversity of people of multiple backgrounds, leading to a greater understanding of user experience and global communication. Her work comprises events such as TEDx Talk, Samantha Chang & Evolution Concept Trade 41 Show, New York; and volunteering opportunities such as Dreamsco Dare to Dream Foundation, Boston; and Voices United, Miami.

Marina focuses on art and artists’ research as well as global curatorial projects and exhibitions, further developing our communication campaigns assuring Artemundi has a cutting edge, opinion-leading viewpoints. She specializes in investment implementation based on the latest market research and analysis designed to provide transparency and knowledge about the art market.

Having worked in both Madrid and London, Cochrane holds a BA Honours degree in History of Art and Spanish from Manchester University.

Marina is an art specialist serving in our valuation board.

Contemporary art specialist Eva Ruiz is in charge of global subscriptions for Artemundi’s Guernica V. Fund (US). Is also a member of the Management Advisory Council and Best Practices. Her long experience managing Alternativ, a consulting agency providing VIP collector programs to international art fairs, galleries, corporate and private collections, positions her in a unique know-who, know-how, and key access to the art market.

Eva brings to her partnership in Artemundi, a true global perspective, attending on a yearly basis the 12 most important art fairs, such as Art Basel, TEFAF, FRIEZE ARCO or the Armory Show, in addition to the world’s most renown art biennials, from Venice, to Kochi, Sao Paulo or Sharjah, to name a few.

Eva is an entrepreneur with a background in journalism and marketing.

Bigna Pfenninger chairs the Management Advisory Council for Artemundi’s Guernica V. Fund. She oversees strategic partnerships, B2B relations, and related fundraising strategies. Specializing in secondary art market services relevant to the wealth management industry, she is expanding Artemundi’s network in Europe and Asia.

Whilst collecting, exhibiting, and publishing on behalf of her clients from her base in London and Zurich, she has served as a trustee on the board of several institutions such as the Swiss Cultural Fund UK, the Trust for Society and Culture in Basel, and the Artheon Society for Contemporary Art in Berlin.

Together with the CEO and former Investment Manager of Artemundi Global Fund (2010-2015), Paloma developed a standardized and unique financial model and reporting scheme. She consults with the CEO and helps to configure the masterplan and asset composition of the investment portfolio as well as strategic investment decisions, studying in depth the most efficient art markets, ratios, their performance against mainstream indexes, and Artemundi’s held portfolios; current trends, the elasticity of supply and demand, volatility, sales, auction records, costs, fees, expenses, currency fluctuations, and tax rates to determine financial risks associated with a particular investment decision, portfolio value, project and forecast future earnings and exit strategies.

Paloma is an art historian. She studied at the Sotheby’s Institute of Art and has a master’s degree in finance by ITAM specializing in art as an asset class.

Paloma is an art specialist serving in our valuation board.

Enrique Liberman is a corporate transactional attorney with extensive experience in representing both private and public companies in a broad range of transactions, including mergers and acquisitions, asset sales, private equity fund formation, joint ventures, structured finance, secured transactions, venture capital investments, securities offerings, licensing and employment matters. Enrique is the President and Member of the Board of Directors of The Art Fund Association, the trade association for the art fund industry.

Enrique is also Managing Partner of Liberman Canna LLP, Partner in Business Law and Art Law + Art Funds Practice Groups, Chair of Art Law +Art Funds Practice and Business Law Practice. Liberman is General Counsel and Member of the Board of Directors of The Art Production Fund, a non-profit dedicated to enhancing public exhibitions of fine art.

Enrique has further applied his art fund expertise to other types of “passion” funds, including luxury asset investment funds focused on the fine wine, rare musical instruments, diamond, and classic car markets. Enrique is highly sought after by passion fund managers to assist them in developing their investment programs and drafting their offering documentation. Enrique also represents prospective investors in evaluating, and negotiating the terms of, possible investments in passion investment funds.

Liberman received a B.A. degree in International Relations from Stanford University, where he graduated with Honors and Distinction and was the recipient of The Firestone Medal. Enrique Liberman also attended Harvard Law School from where he received his Juris Doctor in 1999.

Sandra is experienced in all matters of accounting and taxation and IRS reporting of our US companies. Sandra complies with federal, state, and local financial legal requirements by studying existing and new legislation, enforcing adherence to requirements, and advising management on needed actions. Sandra is also an expert in Trust, Estates and non-profit organizations.

Our partners

Artemundi has substantially invested in building up our reputation throughout an extensive network amongst the best art professionals.

From recognized databases to insurance companies, our strategic relationships with prominent art market specialists include key senior personnel to ensure that our art portfolio is managed with due diligence and proficiency.