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 Posté le: Jeu Sep 26, 2013 5:51 pm Sujet du message: Classic cars geared to top alternative sector - FT |
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Classic cars geared to top alternative sector - FT.com
Classic cars have raced ahead in value over the past decade, with returns far outstripping those for other luxury asset classes such as wine, coins and stamps. Collectable car prices rose 430 per cent in the 10 years to September 2013, beating gold coins, stamps, fine art and fine wine, according to Knight Frank’s luxury investment index. That compares to 55 per cent for the FTSE 100 and a 273 per cent rise in returns over the decade for gold. KFLII antique furniture returns: 1 year -3%; five years -15%; 10 years -19%. A gallery assistant at Bonhams auction house, London, admires furniture lots for sale in a recent Gentleman’s Library Sale©GettyKFLII art returns: 1 year -6%; five years 12%; ten years 183%. ‘Arrullo’ a marble sculpture by Costa Rican artist Jorge Jimenez Deredia, sold by Christie’s, New York, for £ 41,591 in May©AFPKFLII classic cars returns: 1 year 28%; five years 115%; ten years 430%. A 1954 Ferrari 212/250 with coachwork by Pininfarina will be included in an auction of classic cars to be held by Bonhams at Knocke-Le-Zoute in Belgium in October. Its pre-auction estimate is €600,000-€900,000©BloombergKFLII Chinese ceramics returns: 1 year 3%;five years 43%; ten years 83%. A rare Chinese molded and gilt-decorated turquoise-ground vase (1736-1795) sold for $386,500 at Christie’s in New York©AFPKFLII coins returns: 1 year 9%; five years 83%; ten years 225%. One of Australia’s first coins, known as the “Holey Dollar” fetched a world record A$495,000, paid by a private collector. Only 300 holey dollars remain in the world©AFPKFLII jewellery returns: 1 year 2%; five years 51%; ten years 146%. A fancy yellow diamond jewel from the late 19th century set with a 74.53 carat cushion-shaped fancy yellow diamond that was part of the private collection of Shah of Iran Ahmad Shah Qajar (in the background) was sold for $3m by auction house Sotheby’s©AFPKFLII stamps returns: 1 year 7%; five years 60%; ten years 255%. One of the most sought after stamps in the world of philately the 1854 inverted head four annas of India sold at auction for £58,[url=http://woolrich-parkaoutlet.blogspot.com]Woolrich Outlet[/url],000©GettyKFLII watches returns: 1 year 4%; five years 33%; ten years 83%. A perpetual calendar wristwatch with moon phases and leap year by Swiss watchmaker Patek Philippe pictured at an auction preview in Geneva. Guide price up to $170,000©AFPKFLII wine returns: 1 year 3%; five years 3%; ten years 182%. A case of Chateau Petrus 1982. It sold for £35,100 at a Christie’s auction in London in June©BloombergPrevious imageNext imageNext ThumbnailsPrevious ThumbnailsAndrew Shirley, editor of The Wealth Report, which produces the index, said the increase in values of luxury items has been driven by wealthy investors’ move into alternative assets in recent years.MoreOn this story Potential from the palette Creditors renew hunt for Nadir’s missing artRecord sale Christie's auction tops £150m Christie's helps moguls reclaim artistic heritage Contemporary art enjoying a US boomIN InvestmentsDirectors’ deals latest trades September 6Investors Chronicle September 6 highlights Fund transfers hit by delays Funds for all seasons“According to the results of our attitudes survey of wealth advisers . . . a significant number of wealthy individuals plan to increase their spending on investments of passion this year,” he said. “It is therefore not too surprising that the value of our luxury investment index has continued to climb as wealthy investors look for tangible assets that they can also enjoy.”However, he warned that although the index shows very strong overall growth, it would be wrong to assume that investing in any luxury collectable asset class is guaranteed to make investors money in the short term.“The performance of a number of the asset classes in the index, including art and wine, is actually more volatile than the FTSE 100,” he said. “It is also worth bearing in mind that collectors will need to be buying best-in-class assets to see the kind of growth represented by the index.”“Relatively few classic cars, for example, will have increased in value by 430 per cent over the past 10 years. Likewise stamps.”Overall, the Knight Frank Luxury Investment Index has grown by 7 per cent over the past 12 months. This matches the increase in the value of residential property in prime central London over the same period. The FTSE 100 index of UK listed equities performed better, though – rising by 12 per cent.Over the past year classic cars as an investment came top of the index, returning 28 per cent. The value of fine wine also rose by 3 per cent over the past year, while collectable coins rose by 9 per cent.Asset classes that performed badly over the past year include art, with values in this sector falling by 6 per cent. Although certain artists retain their cachet and are achieving record results at auction, Mr Shirley said prices reflect the fact that buyers are generally bidding more cautiously and selectively. AudioVodafone, self-invested pensions and unusual investmentsVodafone's blockbuster deal - what it means for individual shareholders. Why there is less choice these days in self-invested pensions. And the unusual asset classes that have trounced shares, bonds and propertyDownloadGreg Davies, head of behavioural and quantitative finance at Barclays Wealth, also warned investors to be careful when comparing the returns on these esoteric asset classes with those of more traditional assets. “It is difficult to compare the returns on these indices to those of bonds or equity returns because they don’t tell the full picture. These indices do not tend to be investable as a whole, they only represent a small part of the market in that asset class.”He added that the returns on asset classes such as cars, stamps, coins or art, for example, don’t account for transaction costs or insurance, which can be significant. “Once the extra costs are added, the returns on these investments tend to come down,” he said. Mr Davies agreed that the indices include only the very best examples, and for that reason may give the impression that the alternative asset classes are safer than they actually are.“These indices are based on public auction houses’ prices, and they tend only to accept the best items in these asset classes. This means the indices don’t always give a true prediction of the likely returns.”Copyright The Financial Times Limited 2013. You may share using our article tools.Please don't cut articles from FT.com and redistribute by email or post to the web.ShareClipReprintsPrint
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