Investors head for arts and antiques

by Gill Montia

Story link: Investors head for arts and antiques

Stock market uncertainty and low savings rates made their mark on the antiques market in the final quarter of 2009.

Research from the Royal Institution of Chartered Surveyors (RICS) shows silver and jewellery leading the way, with 50% and 37% of surveyors reporting rising rather than falling prices in these categories, respectively.

According to the RICS: “These are traditionally seen as safe havens for investors, but their continuing strength can be attributed to the increased scrappage value of precious metals towards the end of the year.”

Furthermore, contemporary art came back into favour following a year of price falls, with the balance of surveyors reporting rising rather than falling prices positive for the first time since the third quarter of 2008, and up from -34 in the previous quarter.

In the oil and watercolour sub-sector, the top end of the market faired particular well.

For lots over £50,000, 17% more surveyors recorded rising rather than falling prices (compared to a positive 9% for contemporary arts), indicating that traditional pieces remain more popular for large investors.

RICS spokesman, Jeremy Lamond, comments: “Arts and antiques have remained pretty resilient throughout the recession and this latest survey once again demonstrates their strength as an investment class.”