A Good Year for Luxury Art

The top tier wealth, or those with over $50 million US dollars to their name, have a changing taste in the finer things. While the bottle of wine, piece of jewelry, or coin collection may be a treat or hobby for the average person, these goods act as a long-term investments for those who can afford it.

In 2017, art unseated wine as the most invested luxury good. The luxury art market is notoriously volatile partially driven by post-war and contemporary art prices. The average value of art sold at auction rose by 21 percent last year. The value of furniture and Chinese ceramic luxury goods lost value last year, fitting into the wider 10-year trend.