Exhibit 23.1





We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-3 and related Prospectus of Gabelli Asset
Management Inc. for the registration of $200,000,000 of Debt Securities,
Preferred Stock, Common Stock, Stock Purchase Contrasts, Stock Purchase
Units and Trust Preferred Securities, and to the incorporation by reference
therein of our report dated February 28, 2001, with respect to the
consolidated financial statements of Gabelli Asset Management Inc. included
in its Annual Report on Form 10-K for the year ended December 31, 2000,
filed with the Securities and Exchange Commission.


                                                  /s/ ERNST & YOUNG LLP
                                                  -------------------------
                                                      ERNST & YOUNG LLP


New York, New York
December 5, 2001