If someone had to choose where to invest their money, it would be good to turn to non-traditional and traditional investments, but to some alternatives that sometimes hide a passion for collecting. And here’s why: by 29% in 2022, prices in the art market rose on average, giving the best return among so-called luxury-oriented investments. Collectible cars were second best performing, with prices up 25%, the highest in nine years, according to Knight Frank’s Global Wealth Report this year. For example, the Mercedes-Benz Uhlenhaut coupe, which sold for $143 million last year, broke the record for the most expensive car ever sold.

Half of the investments in luxury items tracked by Knight Frank, such as collectible bags, rare wines, jewelry, furniture, diamonds and rare whiskey, saw double-digit price increases, moneyreview.gr said in a report.

Overall, the Knight Frank Luxury Investment Index, which tracks such investments, is up 16% in 2022, outperforming inflation and outperforming most assets like stocks or even gold. According to Knight Frank’s Andrew Shirley, this shows how resilient these types of investments are to shocks caused by major economic and geopolitical events that shake other markets.

Art works were the top sellers as their prices rose by 29%.

Among luxury investments, whiskey was the weakest in 2022, with prices up just 3% on average. Collectible furniture and colored diamonds rose 4%. However, in 10 years, whiskey has become the best investment in luxury and has brought an impressive return of up to 373%. This is followed by classic cars and collectible wines, which have risen by 185% and 162% respectively over the past ten years. As for the prices of works of art, they have increased by 91% over the past ten years.

In particular, last year the market was spurred on by very high prices, which ensured the museum value of some of the exhibits that were put up for auction by rogues and art lovers.

For example, late Microsoft co-founder Paul Allen’s sizable art collection was listed for sale by international auction house Christie’s in November for $1.5 billion. In addition, Andy Warhol’s masterpiece Shot Sage Blue Marilyn sold for $195 million at the same house’s auction last May. It is also worth mentioning the mechanism in the old collectible watches. Last year, their prices rose by 18%, and sales of three auction houses – Christie’s, Sotheby’s and Phillips – in 2022 brought in a total of $ 570 million, i.e. 33% more than the corresponding income in the previous year.