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Market report on luxury investment by Knight Frank’s Luxury Investment Index released in June 2018, finds the art market was growing exceptionally strong and beating other luxury assets. People were buying artworks from less known contemporary artists, who are seeing sale in multi million dollars.
The art market was dominated by post war painting and sale of the impressionist which includes the Christie’s sale of the Leonardo da Vinci’s “Salvator Mundi “(for $450.3-million, New York, Nov 2017). The fine art market grew at the rate of 21 per cent from April to March 2018, overtaking the fine wine as the top performing asset. Fine wine grew at the rate of 9 per cent in these months.
In the previous year- to –year report Fine art had gained 7 per cent and ranked 11th in the luxury investment section, fine wine was on the top of the list with 25 per cent growth.
The luxury car market fell unconstructively for the first time in the last year, since Knight Index started tracking the section in 2013.
Classic Cars Investment
The classic Land Rover and Porsche will be 70 year in the year, and farrari’s Daytone will be 50. On the five year basis, the section of classic cars posted superior growth of approx 91 per cent, and on the ten year basis, the results were 288 per cent growth, as compared to, other categories in the luxury section such as art and wine.
The classic Ferraris are always in demand in luxury car section. A Ferrari offered by Sotheby – a red 1962 model, Monterey, will be opened for auction in August this year, and it is estimated to be auctioned at more than $45 million – one of the highest valuation in the vintage car section.
In the year 2014, the model of 1963, was sold in an auction at Bonhams for $38.1 million.
In the 2017, index classic cars were ranked at seventh, and the price reduced due to high stock and low demand, but overall the market of classic car investment is continuing to grow and is one of the best performing against wines, watches, coins and jewellery.
Comparing collectibles - The Knight Frank Wealth Report 2018
The Knight Frank Wealth Report 2018 outlined the various factors responsible for rise in price of certain luxury items. The investors participating in fine wine, fine art and other collectible gain the joy of ownership and get capital appreciation in a few years. These collectibles provide superior method for diversification and with the new provisions offered online for sale of the rare luxury collectibles, the buyers are adopting internet methods instead of street auctions to achieve desired items at a desired rate.
The changing investment strategies in 2018
People are unable to decide want to buy in 2018, and are making investment to diversify and accumulate variety of luxury products, where they believe the investment is safe and will give long term financial returns. Foggy markets, seismic volatility, political uncertainty, aggressive trade wars (after the G7 summit), weaker currencies and the increasing inflow of foreign visitors to UK, raise the sale of luxury products.
Get more information about some of the upcoming collectibles at 99 Alternative (http://www.99alternatives.com).
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