Coutts, the private bank, has published its latest “objects of desire” index, which measures the increase in value of various objects.
In 2016, rare musical instruments were the top of the index having shot up in value by 16.4%, which is a larger increase than any other category.
Most people collect objects or buy antique furniture because they like their looks or because of their rarity value. The “objects of desire” index looks at objects in terms of investment value. However, the managing director of Coutts, Mohammad Kamal Syed, does recognise that:
“The emotional enjoyment of owning and sharing beautiful items is just as important.”
For a number of years, classic cars headed the list, but in 2016 their average values fell by 10.4%. The index points out that if you bought a classic car in 2005, it should have risen in value by about 11% overall despite last year’s decrease.
Fine art items have generally increased in value, particularly Chinese ones, but modern art suffered a drop of 8%. The value of jewellery outstrips that of watches, having risen by 12% in 2016 and now standing at a 150% increase over 2005 prices. Classic watch prices have doubled since 2005, but are 20% lower than their peak level of 2012.
Popular furniture such as antique wardrobes and tables do not appear in the index, even though many items will have increased in value during 2016. Buyers in Lancashire tend to purchase antique furniture to enhance their homes rather than as an investment that grows in value.
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