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Furniture, bone china dinnerware/tea -sets, artwork, and antiques were popular collectibles known from the last centuries but the millennials have alternative views towards such investments.
Jewelry, gemstone, and fashionable accessories are still very popular as they can fetch a huge value through resale but some categories like heavy wooden furniture are not getting the millennial buyers as they want to invest only in items that are eco-friendly or usable pieces,
and not on the things which require extra expense on storage and maintenance, at the same time as some rare furniture from 17th century which is mostly kept in museums may get a higher bid for their historical values.
Even the military collectibles like the war-era swords that were sold for over $2000 may not get many bids from the younger generation buyers.
Now a day’s one can get rare antique furniture in an affordable range due to such factors but some investments in antiques and unique assets have overgrown, and car, art, and wine have been a winner in the last decade.
Investment-grade wine gained over 147 percent and classic cars grew 289 percent in 10 years. Art gained at a rate of 50 percent in a decade, and 25 percent in one year.
This category contains several things including paintings, sculptures, clothes/ items belonging to royals / historical people - traditional and contemporary pieces.
Some of the classical art pieces are exceptional but can be sold for a fraction of the cost in comparison to modern contemporary paintings. Sometimes, it becomes difficult to estimate the value of the artwork.
However, the trade of second-hand books continues to gain in certain sectors. Some of the old books are like treasure chests, which are easy to store and can provide huge money in exchange. In October 2018, a self-portrait of feminist text was sold for £8.3 million -Jenny Saville’s ‘Propped’, and it created a record value of a living artist.
Some of the key advantages of such investments are that these can be accepted by HMRC against inheritance tax.
High net worth individuals can drive a high surge in the value of such collectibles as it has the ability to outperform certain traditional assets, like some of the rare brands of whiskey, which can get unprecedented interest from buyers from the US and Asia (China).
The art collection is made by a range of independent factors and trends, where some rich millennial buyers may invest in art for individual preference.
The value trajectory of the category is different from other investment modes. It is relatively illiquid coming with higher transaction costs where one can quickly monetize the collection without liquidation.
It can be exchanged with another piece and can be seen as flipping work in the secondary markets.
Art pieces can be given to museums or public places which can improve their value. Leveraging artworks enables investors to capitalize on present-day value allowing for longer holding and some firms offer options for temporary release equity from the art, while, retaining ownership.
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