There is a huge market for collectables. One estimate puts the global market at $372bn – about the size of Portugal’s economy.
No wonder. If you are reading this with your investment hat on, you might see the appeal – these assets offer diversification, and the promise of higher returns, particularly when yields elsewhere are low.
During the pandemic, Tina thinking (‘there is no alternative’) dominated markets. With interest rates skirting zero per cent, diversifying into collectables such as luxury watches and classic cars started to look appealing.