Investors 'still interested in arts and antiques'

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Investors 'still interested in arts and antiques'

Thu 9th Jul 2009

Putting your money into arts and antiques is as good a way as any to invest for the future, it has bee claimed.

As the housing market continues to struggle, investing in pieces of art or antique furniture may be one way to keep funds secure, as the latest Royal Institution of Chartered Surveyors (RICS) Arts and Antiques Survey has found this area to still be in positive territory.

It found that while contemporary art pieces have fallen in value, oil and watercolour paintings have increased by five per cent. In a similar vein 39 per cent more surveyors reported a rise in value rather than a fall in silverware.

"Some sectors of the arts and antiques market are fairing better than others at the moment with the traditional safe havens of jewellery and silverware still attracting the more cautious investor," said RICS spokesperson Andrew Davies.

According to a survey conducted by Merrill Lynch and Cap Gemini last month, Britain's top earners have increased their art spend from 20 per cent to 25 per cent of their total investments following the onset of the economic downturn.

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