Classic cars and rare coins maintained their status as the world’s best-performing luxury assets in 2015 thanks to stellar auction results, according to a new report.
The Knight Frank Luxury Investment Index (KFLII), which tracks the performance of a theoretical basket of selected collectable asset classes using existing third-party indexes, said the value of the world’s most collectible vehicles increased 17 percent on-year.
“Eight of the 25 cars ever to have sold for over $10 million at auction all went under the hammer in 2015. These included all-time high results for Porsche ($10.1 million) and McLaren ($13.75 million),” Knight Frank said. Jaguar’s C-Type Works Lightweight, sold in August, commanded a cool $13.2 million. JUSTIN TALLIS | AFP |Getty Images – Spanish painter Pablo Picasso’s Les femmes dAlger (Version O) on April 10, 2015.
Among the notable items sold last year was a 2,000-year old gold Aureus coin that went for £300,000 ($433,185).
Just earlier this month, a penny coin dating back to 1933?one of only four ever made?was sold for £72,000 ($103,951), the world record amount for a copper or bronze coin ever sold at auction.
Watches and wine were the next best assets, logging a 5 percent spike each, followed by a 4 percent rise each for jewelry and art.
Both contemporary and modern art underpinned gains in the latter group, with notable sales such as Picasso’s Women of Algiers setting an all-time auction high ...