Super-rich in growing passion for investment

08:55, June 23, 2011      

Email | Print | Subscribe | Comments | Forum 

Demand for art, watches, rare wines, vintage cars and other offbeat investments expanded in 2010 as the world's super-rich rebounded from the financial crisis, according the latest World Wealth Report.

"The value of many categories of 'investments of passion' rose and HNWIs (high net-worth individuals) made acquisitions for the aesthetic and emotional appeal and their potential to return value," Capgemini and Merrill Lynch said in their World Wealth Report published yesterday.

Growing wealth in emerging economies, especially in Asia - which surpassed Europe in millionaires and wealth last year - helped spur a revival in markets for these aptly named investments, the authors of the report said.

Luxury collectibles such as fancy cars, boats and jets accounted for almost a third of these investments in 2010. Chinese demand for cars made by Mercedes-Benz and Ferrari jumped last year.

"Newly wealthy Chinese buyers are widely reported to be keen bidders and buyers at galleries and auction houses, especially to acquire the fast-diminishing supply of works from native artists," the authors of the report said.

Meanwhile, demand for diamonds as well as gold jewelry and coins soared.

"Record prices for diamonds at international auctions in 2010 exemplified the growing trend among the world's HNWIs to see large diamonds as a safe and high-growth investment alternative," the report said.

Source: Shanghaidaily
  Weekly review  


  • Do you have anything to say?


Special Coverage
  • Beijing-Shanghai High-Speed Train now in Operation
  • From drought to floods
Major headlines
Editor's Pick
  • Children in poor areas chronically underfed
  • China, Bangladesh have significant opportunity to boost ties: Vice President
  • Jyrki Katainen elected Finnish prime minister
  • U.S. Fed to end bond-buying program on schedule
  • "Beginning of the Great Revival" holds special show for media in Toronto
  • Tropical storm Haima hits southern China, forcing ships to stop service
Hot Forum Discussion