An eye for fine art can be an asset

AN EYE FOR A MASTERPIECE

In the hunt for diversification, investors could do well looking at art as an asset class. Maria Merricks reports.

Following its 2008 crash the art world appears to be well on its way to recovery, breaking records in the process. In 2010, sales at auction company, Christies International, were the highest in its 245 year history at £3.3bn, up 53% on the previous year. Meanwhile, according to the Mei Moses All Art index (the measure of art returns) prices rose 16.6%, the first increase in three years. Investors are clearly flocking back to the asset class, but what has led to the shift? According to Randall Willette, managing director at Fine Art Wealth Management, investors have moved their con...