‘Investments of passion’, as Knight Frank refers to them, have outperformed the majority of mainstream investment classes, including equities and even gold, over a 10 year period. The value of luxury goods continued to increase steadily throughout the Covid-19 period, with half of the assets seeing double-digit growth last year.
 

Luxury is often considered to be resilient during economic slowdowns as most sales come from the super wealthy. For example, 59% of ultra high net worth individuals are looking to invest in art in 2023, according to Knight Frank’s Attitudes Survey.