Collectible Investments for the High Net Worth Investor

Chapter Art Investing and Wealth Accumulation

Introduction

As high net worth individuals’ (HNWIs’) personal wealth has increased, so has their interest in fine art. Once viewed almost exclusively as the pastime of connoisseurs, art collecting is increasingly seen as an alternative asset class. This, in turn, is helping fuel a large international art market that has been setting record prices, not just for the scarce work of Old Masters and Impressionist painters, but also for the works of contemporary artists.

A significant increase in global wealth over the past 10 years has arguably helped fuel the current boom in the international art market. We have seen prices rise not only among Western artists but across most emerging markets, such as ...