Luxury investments face decline: Fine art, wine and whisky see major price drops – Economy News
The prices of art saw the steepest annual decline among luxury investments, dropping by 18.3% in 2024, according to Knight Frank’s ‘The Wealth Report 2025’. The report, released by the global property consultant, revealed that only half of the top 10 passion investments recorded positive growth last year. Among luxury assets, handbags emerged as the best-performing category, with prices rising 2.8%, followed by jewellery (2.3%), coins (2.1%), watches (1.7%), and classic cars (1.2%). Collapse of art, wine, and whisky markets Fine art experienced a sharp decline, reversing the double-digit growth...