Frieze Week, held every year in Regent’s Park, is one of the most influential in the art world’s calendar.
The contemporary art boom has proved itself to be just another bubble. And not before time, says Merryn Somerset Webb – art has everything you don’t want in an investment.
This is not the time to be pouring your life savings into speculative investments, but if you’re keen to start a new hobby, comics and James Bond memorabilia are two examples of collections that you can can build up cheaply.
Wine, art and antiques may sound like good investment ideas, says Merryn Somerset Webb, but they’re not. They may very well be entertaining hobbies, but you shouldn’t be betting your financial future on whether people’s tastes will still favour Château de Chassily in a few years’ time.
Alternative investments boomed in the heady days of easy credit. But can you really make a fortune with stamps, books and wine? For the vast majority, the answer is no.
The economic crisis means it’s back to art for art’s sake as pieces fail to sell at auction. Buy it for love, not money, says Ruth Jackson.
Keeping wine can make an excellent hobby. But as an investment idea, it’s an expensive, illiquid non-starter.
Collectors and sellers have a common interest in propping up the art market. But the strain is beginning to show. The illusion can’t last for ever, says Eoin Gleeson.
Prices for collectables such as fine wine, art and stamps are affected by the amount of money chasing them. But, says Jody Clarke, this investment money is likely to dry up as the global economy slows.
Two darlings of the alternative investments sector – private equity and hedge funds – don’t look quite so clever now that things aren’t going so well with the global economy.
First edition books are an ideal present for anyone who loves reading and collecting. What’s more, as an asset class like wine or art, they’re the gift that could potentially keep on giving.