Arts and antiques investments 'grow in popularity'

Recent turbulence on the global financial markets has reportedly led to high-end private investors looking at new assets - including antiques.

Research from the Royal Institution of Chartered Surveyors (Rics) revealed today that art and antique auctions in the UK are becoming increasingly popular.

The poll of members show that 19 per cent more surveyors are reporting a rise, rather than a fall, in lot prices over January-March.

This contrasts sharply with October-December 2008, where Rics recorded a balance of 32 per cent towards falling prices.

Oil and watercolour paintings experienced a still more spectacular turnaround, with the balance of prices going from -47 per cent to plus ten per cent over the three-month period.

This could suggest that buyers are preferring traditional lots which retain their value over the long term.

Rics spokesperson Jeremy Lamond said: ’Buyers continue to seek tangible investments away from traditional saving avenues.’

He added: ’Lack of supply is not deterring the public from bidding at auction and we expect this to continue in coming months as buyers see the value in investing in arts and antiques.’

Other investments have suffered over recent months, as the credit crisis tipped the UK into what looks likely to be its worst recession in decades.

Stocks have been hit particularly hard, with the FTSE 100 40 per cent off its 2007 highs.ADNFCR-2318-ID-19128519-ADNFCR