On the nature of the red, 2MASS selected AGN in the local Universe I: an
  optical spectroscopic study
  We present optical spectra for a representative sample of 27 nearby (z < 0.2)
2MASS-selected AGN with red near-IR colours (J-K 2.0). The spectra were taken
with the ISIS spectrograph on the WHT with the aim of determining the nature of
the red 2MASS AGN, in particular whether they are young quasars obscured by
their natal cocoon of gas and dust. We compare our findings with those obtained
for comparison samples of PG quasars and unobscured type 1 AGN.
  The spectra show a remarkable variety, including moderately reddened type 1
objects (45%), type 1 objects that appear similar to traditional UV/optical
selected AGN (11%), narrow-line Seyfert 1 AGN (15%), type 2 AGN (22%) and
HII/composite objects (7%). The high Balmer decrements that we measure in many
of the type 1 objects are consistent with their red J-KS colours being due to
moderate levels of dust extinction (0.2 < E(B-V) < 1.2). However, we measure
only modest velocity shifts and widths for the broader [OIII]{\lambda}5007
emission line components that are similar to those measured in the comparison
samples. This suggests that the outflows in the red 2MASS objects are not
unusual compared with those of optical/UV selected AGN of similar luminosity.
In addition, the Eddington ratios for the 2MASS sample are relatively modest.
  Overall, based on their optical spectra, we find no clear evidence that the
population of red, 2MASS selected AGN at low redshifts represents young
quasars. Most plausibly, these objects are normal type 1 AGN that are
moderately obscured by material in the outer layers of the circum-nuclear tori
or in the disks of the host galaxies.
