Abstract
The objective of this research is to determine the constructs of regret, pleasure and purchase frequency of an art consumer. A Partial Least Squares and Structural Equations methodology was used for their virtues as second-generation models. The results show that regret bias was statistically explained through financial motivation, passion for art, and alternative offers; therefore, people may have feelings of regret or anxiety due to the fear of missing out on an opportunity by not buying a work of art, as well as that passion for art was an exogenous variable influential in the explanation of loss-regret, the pleasure, and frequency of purchase. The limitation of the research is the subjectivity the historical context of the year 2023, and the cultural background of the sample population. The implications of studying art as an alternative asset are that it improves the culture of investment and the market. The research employs an original approach since it studies a behavioral finance bias such as regret and what determines the passion for art.