Monet Guru, should we be investing in art?
Do you know your Monet from your Munch, or your Picasso from your Pollock? Art is revered around the world, but in 2018, is it really still worth investing in?
All around the world, the fine art investment market is attracting more and more young collectors. According to US Trust’s study, millennials are the fastest-growing segment of art collectors, with their ownership rising a whopping 8 per cent since last year.
Millennials are twice as likely as any other age group to view art as a financial asset, with 32 per cent of those surveyed viewing art as a safe investment in volatile markets, and 35 per cent saying they enjoy being part of the art world.
However, there are sometimes drawbacks, and buyers should be wary when it comes to investing in art. Research from Stanford University concluded that it may be sensible to buy paintings for your own viewing, not for investment, as ‘paintings are primarily aesthetic investments, not financial ones’. So remember to be careful, as art is sometimes not the most financially-shrewd investment.
Last year, a painting of Christ by Leonardo da Vinci sold for a record-breaking £341m, smashing previous sale records of art, so maybe it’s time to start brushing up on your art knowledge and hitting the local auction house.
Although, if art isn’t your bag, never fear. The experts at moneyguru.com have uncovered the best alternative ways to invest…
1. Uncover rare books
First-edition books will typically yield a higher value but later editions of rare books can be more desirable if they have additional information or illustrations from the author. The most precious copies are, typically, pretty old, so proper care must be taken if you find your investment gem.
2. Capture the coin
In 2018, a grandmother found one of the world's rarest coins while clearing out her attic, thought to be worth in the region of £100,000. Steer clear of limited edition coins, however, as most modern coins are never going to make money unless they are particularly rare or have been minted by mistake. Although it’s usually the highest-priced coins that hit the headlines – ‘numismatics’ can start their collection with fascinating historic pieces for a fairly modest investment.
3. Drive investment with classic cars
An investment in a classic car can not only be financially rewarding but also practical (that is if you dare to drive it). The utilisation and the driving experience will come with risks to your investment, so drive with caution, as it could be an easy way to steer your investment down.
4. Investment playtime with toys and figurines
Toys and figurines aren’t just for geeks anymore, and they could be an avenue for high returns if you get your hands on the right items. Although the wear and tear of children’s toys might make it harder to find a good investment piece, an original boxed item can be seriously profitable. Keep your eyes open for classics from TV and film series such as Thunderbirds and Star Wars which frequently yield high returns for investors.
5. First-edition board games
Roll the dice on a first-edition board game for an alternative investment option in 2019. You only need a little knowledge to invest, and if you can spot that highly desirable first-edition board game, it’s not unusual for these to fetch over 10 times their original price.
6. Invest in yourself
Look to upgrade your knowledge bank and freshen up essential skills – it could be the best investment you will ever make. By opening up new avenues and career opportunities, there is an abundance of options to bolster your own skills. Best of all, you can invest in yourself right away with no prior research, and you can even do many courses online for free.
What are you waiting for? Let’s Gogh! Head over to the wisdom page at moneyguru.com and discover how you can go from skint to savvy today.
Published on 11th September 2018