It's been a big week in collectibles...
It's been a big week in collectibles...
A $106m Picasso, 2m sportscars and $500,000 violin are a few of the record sales in the last week
This weeksaw a world record price for a piece of art when Picasso's Nude Green Leaves, and Bust sold for $106,482,500 at auction in New York.
This beat the $104m paid for Alberto Giacometti's L'homme qui marche I, bronze in February 2010.
What struck me as the most interesting aspect of the sale was that there were still 8 bidders in the running for the Picasso piece when it hit $88m. Two bidders then battled it out to $95m.
I almost felt sorry for the other bidders. After all, the auction estimate was $70m, so you'd hope a bid of $88m would secure it.
It's not just the art market...
Elsewhere the classic car market saw some big sales this week.
At the Sporting Classics auction in Monaco five cars achieved more than 2m each. Two of these also sold for world records.
Again what was interesting about this sale was behind the scenes.
Bidders from more than 33 countries were frantically placing bids via the telephone. Interest from Russia and China was high.
You can add to that over 3,300 people who watched the event via a live internet link.
And tellingly 28% of the bidders were new to the classic car market.
These are people who have never before considered investing in classic cars, but can now see the investment benefits of these tangible assets.
Given the recent problems in the financial markets I expect to see more investors gain appreciation of the collectibles investment markets.
But don't take my word for it...
It's already happening in other areas. Back in America coin sales have been making headlines with a 1921 double eagle, graded MS63 by PCGS and pedigreed to thefamous Norweb Collection, selling for an incredible $218,500.
And a Gasparo Bertolotti viola sold for $542,500 at Christies New York, yet another World Record, and doubling the auction estimate.
Elsewhere Alan Shepard's Gemini spacesuit sold for $187,200 against an estimate of $100,000.
And the rare stamp market continues to skyrocket with a Belgian Crimean Diplomatic cover selling for eleven times its estimate at $45,000.
It's clear to me that more and more money is piling into collectibles.
Here's the reason why
History has proven, time and time again, that a carefully selected portfolio of high-end collectiblescan offer exceptional returns over the mid-to-long term.
High-end collectibles cover areas as diverse as fine wine, art, classic cars, rare stamps, coins, medals and vintage watches.
What do we mean by 'high-end'? We're talking about the unique pieces, the historical artifacts. The pieces other collectors aspire to own.
You may already be an expert yourself, or you may be completely new to this type of investment, either way, our aim is to build long-term relationships with collectors and investors alike.
Our offer to you...
Our bespoke investment services include:
Free advice from the most experienced dealers in the world
No fees or annual charges
Free annual review of your portfolio
Free insurance and storage
Lifetime guarantee of authenticity
is in finding unique items, with impeccable provenance and an interesting story.
Whatever your passion,there is strong historical evidence thatthe high-enditems makea profitable investment.
If you are looking to invest money in collectibles we suggest you do your own research first.
Our news site offers all the latest auction results, interviews with experts etc, all the information you need to make informed investment decisions.
My advice is to make use of that knowledge. It's all free.
And if you want more information on these exciting markets you can also talk to one ofour investment advisors for free and impartial advice.
No obligation whatsoever. We just want the opportunity to share our passion with you.
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