Classic cars were the top luxury asset class in 2015, followed by coins, in an annual performance index which tracks the price growth of 10 luxury investment sectors worldwide.

The value of the Knight Frank Luxury Investment Index (KFLII) rose by 7 per cent during 2015, according to data from the latest edition of The Wealth Report.

The increase of classic cars (+17 per cent) compares with a 5 per cent drop in the value of the FTSE 100 equities index and a rise of only 1 per cent for the top end of the London residential market over the same period.

Coins (+13 per cent) were the only other luxury asset class to record double-digit growth, while furniture continued to perform poorly sitting in last place (-6 per cent).

James Lewis, head of Dubai, Knight Frank, said: “Luxury investments have continued to capture the media spotlight following a slew of stellar auction results throughout the year. It is no surprise that the KFLII outperformed the FTSE 100 and the prime central London housing market, as these kinds of luxury investments are hugely popular with ultra-high-net-worth individuals.”

“Although no classic car managed to beat the record set by Bonhams in 2014 when it auctioned a 1962 Ferrari 250 GTO Berlinetta for $38 million, eight of the 25 cars ever to have sold for over $10 million at auction went under the hammer in 2015.

“Even furniture, which has performed poorly over the last decade, secured a new high for a living maker when a Marc Newson Lockheed Lounge sofa was sold in April for £2.4 million by Phillips,” he added. – TradeArabia News Service