Buying power
THE latest Knight Frank Luxury Investment Index (KFLII), released last week, makes for interesting reading, with art the main headline. Of the 10 most popular ‘purchases of passion’—jewellery, watches, handbags, cars, whisky and so on, whatever floats your boat—it is art that has increased in value the most in the past 12 months, up 11%, the only one to hit double digits, although all the gains came in the first half of the year. Over 10 years, art’s price increase is 105%. This year, jewellery is up 8%, followed by watches at 5%.
Cars, on the other hand, are down in value by 6%, but still 82% up on 10 years ago. Whisky is down 9%, yet, with a staggering increase of 280% over the decade, all is…