The Guardian | Rupert Neate

Art is expected to overtake wine as the best-performing luxury investment asset this year as a growing number of millionaires snap up contemporary masterpieces for their mansions.

Rich people, hit by a collapse in art pricesafter the 2007-2008 financial crisis, have returned to the market, according to high end estate agent Knight Frank. Art sold at auction increased in value by 16% over the 12 months to the end of September, slightly behind fine wines which rose by 17%, its luxury investment index revealed…read more 

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