12 THE GOLDEN YEARS 25 OCTOBER 2015 Financial Services, Investment & Private Client Investments of passion
With luxury investments on the rise, it seems the bank isn’t the fi rst port of call for canny investors this year. Words: Andrew Shirley
Classic cars continue to drive performance. Sadly for the petrolheads
among us, nothing has overtaken the 1962 Ferrari 250 GTO Berlinetta as the most expensive car sold at auction — it fetched a staggering $38m (£25m) in 2014. But several records for other marques were set in the Monterey and Pebble Beach sales earlier this autumn, where models by Jaguar, Porsche and McLaren all broke the $10m (£6.6m) barrier for the fi rst time.
Art remains on the radar of
savvy investors, with more recent artists leading the way. Christie’s record-breaking New York sale in May saw Picasso’s
Les Femmes
d’Alger (Version O) set a new high for a work of art sold at auction when it fetched $179m (£115m) — some way above its $140m (£92.4m) estimate (see right). Moments later, Alberto Giacometti’s Pointing Man set a record for a sculpture when it reached $141m (£93m).
T e very fi nest gemstones continue to appeal strongly to well-heeled
magpie collectors. Bonhams set a new record for a spinel — oſt en confused with a ruby — when the historic 50-carat Hope Spinel went under the hammer in London at the end of September for £962,500.
Chinese ceramics and coins have also been on the up, with one of the year’s standout sales bring the 600-year-old Mahin Banu ‘Grape’ dish, which fetched $5.1m (£3.3m) when it went under the hammer in New York this March as part of Sotheby’s Asia Week.
Both the FTSE 100 equities index and gold prices have
seen a drop this year, plus there’s been a slowdown in the prime London residential property market. It’s interesting that investors are concerned enough about the economic outlook to peg back equity values, but not so worried that they’re fl ocking back to the safe-haven bosom of gold.
Sadly, it doesn’t look encouraging for those who’ve been carefully
polishing their antique furniture in the hope it’ll turn out to be a nest egg for future generations. Despite hopes of an Asian-led market upturn, furniture lost further ground in 2015 and has now posted a loss of almost one third of its value over the past 10 years.
Andrew Shirley is the editor of Knight Frank’s Wealth Report. Data from the Knight Frank Luxury Investment Index (KFLLI), tracking the value of 10 luxury investments, from art to coloured diamonds, in the fi rst two quarters of 2015.
‘Les Femmes d’Alger’ at Christie’s in New York City Image: getty
Top tips for budding art investors
Words: Estelle Lovatt Why keep your money in the bank when it’ll look prettier on the wall?
Buy what you love. You’ll spend a lot of time looking at the work of art — possibly more so than you do looking at your partner. SALT before investing. You need to Spend A Little Time learning about art, and the business side of the art world, before you buy. If you’re serious, maybe try an art history course. Don’t ever buy if you think an artist’s work will increase in value when they
die. It won’t, unless the artist is already famous before death. And once you’ve taken the plunge, don’t instantly think about selling the artwork, because price appreciation can take years. Art isn’t a foolproof way to get rich, quick. And oſt en, the rewards are emotional, rather than all about the money. Estelle Lovatt is an art critic.
estellelovatt.com
Ferrari; Gem; Housing Image: istockphoto The Golden Years recommends:
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• Relief from inheritance tax FIM Services Ltd Formed in 1979, FIM has 36 years of experience in asset-backed sustainable investments, primarily UK forestry and renewable energy. fi
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• Award-winning homes CALA Exclusive developments combining traditional
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design with modern
• Rare collections Stanley Gibbons Investments With expertise in rare stamps and coins, Stanley Gibbons Investments off ers the opportunity to preserve and grow your wealth via fl exible portfolio structures.
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How much?
Revel at the eye-watering amounts paid for these weird and wonderful investments Words: Tracy Martin
Dress T e iconic white dress Marilyn Monroe wore in T e Seven Year Itch went for $4.6m (£2.8m) when actress Debbie Reynolds sold her private collection of Hollywood memorabilia. T e famous scene of
the actress standing over the
subway in the billowing dress is the holy grail of Monroe and movie memorabilia.
Lock of hair T e winning bid for a lock of Elvis Presley’s hair reached $115,000 (£75,800) in 2002. As one of the greatest music
artists ever —
with a ’do to match — anything associated with T e King always makes good money at auction.
Sports memorabilia Babe Ruth’s New York Yankees jersey from the 1920s — the oldest known to still exist today — sold for $4.4m (£2.9m) in 2012.
Action fi gure Boba Fett went for a whopping £15,000 in 2015 — quite a hike from its original value of a few quid. T is rare Palitoy fi gure is testament to the pull of nostalgia- driven collectables.
Fake nail Lady Gaga’s black acrylic nail fetched a staggering $12,000 (£8,500) when it was picked up by a stagehand and auctioned off in 2013. Speechless, indeed.
Air (yes, air) Brad and Angelina breathed into a jar and it sold for $530 (£350). Yes, allegedly someone did pay this amount for a jar of, well, nothing.
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