The  (KFLII) follows the price changes and investments in items such as art, cars, watches, wines, and other luxury goods over time. Despite the economic crisis and inflation hitting global economies, investments in such goods grew by 16% over 2022, “outperforming the majority of mainstream investment classes, including equity and even gold,” notes the report.

The prices of all items grew over the past twelve months: art saw the biggest year-on-year progression (29%), followed by cars (25%), watches (18%), handbags (15%), wine (10%), coins (8%), jewellery (6%), furniture (4%), coloured diamonds (4%) and lastly, rare whisky bottles (3%).

Over ten years, the price hike is however opposite, with whisky seeing the most important increase (373%), followed by luxury cars (185%), wine (162%) and watches (147%). Over a decade, diamonds (16%) witnessed the smallest increase in cost.

Art’s popularity in 2022 is explained by “by the stellar prices paid for museum-quality works of art by ultra-wealthy collectors.” According to the report, 59% of UHNWIs are looking to invest in art in 2023. Andy Warhol’s Shot Sage Blue Marilyn was sold at $195m last year, making it the highest selling asset in the art category that year.

Other highest selling goods include a $143m Mercedes-Benz 300 SLR Uhlenhaut Coupé and, in the watch category, a $7.7m Gobbi Milano-signed Patek Philippe (ref. 2499). Wine saw its growth stunted compared to 2021, going from +16% to +10%, with the highest selling item going for €361,000.