A recent analysis delved into the performance of various luxury goods categories over the past decade, providing insights into their appreciation in value as of Q4 2023. The data, sourced from the Knight Frank Luxury Investment Index within the 2024 Wealth Report, also included a comparison with the 10-year returns of the S&P 500 for additional context.
The index, utilizing the weighted average of each individual asset, monitored the sales of reference brands and pieces within each category. Here’s how the assets fared in terms of price change from Q4 2013 to Q4 2023:
- Rare Whiskey: +280%
- Wine: +146%
- Watches: +138%
- Art: +105%
- Cars: +82%
- Handbags: +67%
- Coins: +56%
- Furniture: +40%
- Jewelry: +37%
- Colored Diamonds: +8%
- S&P 500: +158%
Over the past decade, rare whiskey emerged as the top-performing luxury asset, experiencing a remarkable appreciation of 280%, surpassing even the S&P 500’s growth.
Notably, rare whiskey auctions have seen a surge in sales, with collectors occasionally spending millions on single bottles. For instance, in November 2023, a bottle of The Macallan Valerio Adami 60 Year Old, one of only 40 produced, sold for $2.7 million at a Sotheby’s auction, exceeding the initial high estimate of $1.5 million.
Following rare whiskey, fine wine and luxury watches demonstrated strong performances, with increases of +146% and +138%, respectively.
On the other end of the spectrum, jewelry and colored diamonds recorded comparatively modest gains of +37% and +8%, respectively, over the same period.
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