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Art and antique are tangible physical investments. These are uncorrelated to stock prices and it is difficult to get reliable price comparison data for such items, over time. These are luxury passion investments, where the value can rise over time for a specific style, period or craftsman, at the same time, an identical artwork or unique piece may not gain due to variable factors. The price fluctuation can be extreme, and these can create both opportunities and hazards for the investor.
The piece of art which is unique and is desired by two or more investors can get an astronomical price. David Hockney’s Portrait of an artist auctioned in November 2018 was sold for $90.3 million – that was one of the highest amounts paid for an artwork by a living artist at auctions. Art continues to outpace classic cars that had over 289 percent increase in the value in the last decade up to the second quarter of 2018.
Experts recommend buying a piece of art, painting or antique based on personal tastes, or one can explore multiple strategies by contacting a dealer. Wealth managers advise clients to invest in passion items as it can provide a hedge against volatility & inflation, and its prices move opposite of the main financial indices. High-end art sales worldwide increased in value by 6% in 2018 to $67.4bn (£49.3bn, €57.4bn), the markets’ second-highest level in 10 years, according to UBS Global Wealth Management.
Passion investments like art and antique do not produce an income through ownership and may require proper storage, where the investment can be held for more than a decade. The profits on investments include the cost of purchase, the cost of ownership, the cost of selling, and the effect of inflation. A person can put up to 10 to 20 percent into illiquid assets where art and antique can account for 20 percent of the share. Collection and investment go hand-in-hand, and the auctions are the places where some of the most sought-after treasures can be bought. Art is one of the top performing alternative luxury investment, although, the returns of the World All Art Index of the last 60 years is below the S&P 500.
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