Art Investment Could Well Be The Pension Funds of the Future

Despite the financial markets being in turmoil and fears of a recession, Hirst's auction proved that there are still plenty with money to spend. We see no sign of a slowdown in spending, but their buying patterns do suggest that funds are diverting into more tangible, safer goods like art, jewelery and cars. We've insured more £1 million classic cars and diamond rings this year than in the past. As well as bringing enjoyment, these investments could well be the pension funds of the future. Simon Mobey, personal lines manager for UK & Ireland of Chubb Insurance, an insurer of the ultra-wealthy, said. [from wealth-bulletin]
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