Art leads Knight Frank Luxury Investment Index
- The KFLII, which tracks the value of 10 popular investments of passion, edged into marginal negative territory for only the second time, with prices down on average 1% across the index, despite a year of record-breaking sales in the luxury market
- Art was the best performing luxury asset class in 2023, with prices rising 11%
- Jewellery (8%), watches (5%), coins (4%) and coloured diamonds (2%) made up the top-five best performing assets in 2023 after art, with rare whisky bottles (-9%) the worst performer
- Art also topped the KFLII in 2022, with prices rising by 29%, followed by classic cars (up 25%) and watches (18%)
Andrew Shirley, editor of the Knight Frank Luxury Investment Index said, “The priciest bottle of Scottish whisky, the most expensive Ferrari 250 GTO, the costliest blue diamond, even the dearest sword - in 2023, the major auction houses achieved a string of record-breaking sales. It sounds like a bumper year for luxury investments, however the KFLII reveals a less positive picture. KFLII edged into negative year-end territory in 2023, albeit by a fraction of a percent, as several stalwart members of the index dropped into the red or showed minimal gains. However, a peek behind the headlines reveals it’s not all doom and gloom, with some of the losses are simply down to the froth coming off markets, according to the experts who supply the data for KFLII.”
Full results of Knight Frank’s Luxury Investment Index Q4 2023:
Sources: Compiled by Knight Frank Research using data from Art Market Research (art, coins, furniture, handbags, jewellery and watches), Fancy Color Research Foundation (colour diamonds), HAGI (cars), Rare Whisky 101 and Wine Owners
Notes: All data to q4 2023. KLII is weighted average of individual asset performance.
Notes: All data to q4 2023. KLII is weighted average of individual asset performance.
Read full report here.
