Contributions to "treasure" more popular than investing finance

Only 11% of UK “treasure” assets, which include items such as precious jewellery, fine art, wine, antique furniture, classic cars and precious metals, are held for financial reasons, according to a new report from Barclays.Despite increased interest in collectibles and record prices being set at auction, new research from the bank finds that UK investors are far more likely to hold treasure assets for emotional, rather than financial reasons.

In addition, a quarter of wealthy respondents in the UK confirmed that they are holding more treasure types today than five years ago, at around 7% of their total net worth.

In the UK, the order of popularity mirrors global trends, with 65% of respondents investing in precious jewellery, 54% in fine art, pictures and paintings, and 41% in antiques.

Fine art and antiques tend to be more popular among older individuals, while younger investors prefer cars, wine, precious metals and jewellery.

The study reveals that 69% of treasure assets are held for enjoyment in the UK, with cultural reasons the second most important factor.

Respondents were also holding almost one-third of their treasure assets for future generations to enjoy, and were likely to require a very high price increase before they would consider selling.

Barclays’ findings are based on a global survey of more than 2,000 high net worth individuals.

Source:
bankingtimes.co.uk