The Knight Frank Luxury Investment Index (KFLII) – which tracks a weighted basket of 10 luxury collectibles – rose by 7% in the 12 months to the end of June 2023, with art at the top.
According to the AMR All Art index – which measures the performance of artworks sold by the leading global auction houses – art experienced 12-month growth of 30%, with female artists seeing some of the strongest price growth in the art market over recent years.
Watches and jewellery both grew by 10%, putting them second and third in the rankings, with coins in fourth place (8%) followed by the KLFII average at 7%.
In sixth and seven place are classic cars (5%) and wine (5%), which both witnessed a slowdown. Enjoying a rise in interest, coloured diamonds are in eighth place, up 4%, and handbags (1%) and furniture (0%) follow. Whilst rare bottles of whisky are the strongest 10-year performer in the KFLII, they are the only asset class to see a negative annual performance (-4%), according to the Rare Whisky 101 index.
Compared with house prices in Prime Central London, which were down 1% over the same period, and the FTSE 100 index of equities, which rose by 5% – plus gold, which was up in value by just 1% – the returns are described by the report’s authors as ‘creditable’.
For further information and to download the report: knightfrank.com
Smith Greenfield is an independent insurance broker specialising in insurance for exclusive lifestyles and collectors of valuable objects including: art insurance, antiques insurance, jewellery insurance, watch insurance, vintage car insurance, fine wine insurance and more. To discuss specialist insurance for your lifestyle, please contact our Premier Client Adviser, Imran Moideen: imran.moideen@smithgreenfield.co.uk