The Knight Frank Luxury Investment Index Q2 2017*, which tracks the price growth of 10 luxury investment sectors, shows that whilst classic cars have dominated the rankings for the past few years, jewellery and wine have powered ahead this year.
Jewellery, “a highly mobile store of wealth”, rose by 4 per cent over the last 12 months. Overall, however, jewellery has risen in value by 142 per cent over the past 10 years.
Wine, up 25 per cent, was the top performer in the Q2 2017 index thanks to strong growth in the key Bordeaux, Burgundy and northern Italian markets. No other asset class achieved double-digit growth across the past twelve months.
Classic cars have moved into sixth place, with average prices rising by just 2 per cent to Q2 2017.
And in separate research, according to Barclays Wealth’s UK Prosperity Map rising house prices have led to highest ever number of UK millionaires – with one in 79 now a millionaire.
The increase has jumped up 44,000 on last year and nearly half of all millionaires live in London and the South East, where houses are the most expensive.
Beavis Morgan – Advisers to Britain’s high net worth individuals
Our specialist team at Beavis Morgan offers over 40 years’ experience in helping high net worth individuals maintain their capital value and manage their income levels, to assist in continuing to meet your lifestyle goals. We proactively explore the intricacies of the tax legislation, making sure that all reliefs available to you are utilised and that your interests are safeguarded. We can also assist you with medium and longer-term financial planning to ensure that you, your family, and ultimately future generations of your family, will benefit from your wealth in accordance with your wishes.
For more information and to discuss your tax affairs in further detail, please contact Alan Ford or you usual Beavis Morgan Partner.
*Click here to read the Knight Frank Luxury Investment Index – Q2 2017 report in full
