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Art is Fourth among Wealthy Investors

By   /   June 29, 2013  /   No Comments

“Passion Investors” globally are allocating the largest portion of their cash at 31.6% to watches, gems and jewelry according to the 2013 World Health Report.  Collectibles such as antiques and wine were next in popularity at 24%, luxury items such as flash cars and boats were at 19% and art came in fourth at 16.9%.  The richest people in the world are spending twice as much cash on watches gems and jewelry than they are on art, which leaves one questioning the current obsession with art investment. While it’s true that art came in fourth, it has, as an investment of passion, seen significant growth in the past few years, especially in emerging markets.  Furthermore, many collectibles are lumped together in the report, while art is listed on its own.  The art market, driven by auction houses, is also livelier than private sales and inheritances.

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