Money
Briefing: Art and classic car auctions top $600 million despite Iran war
Strategic angle: Experts say the global turmoil may have even helped demand for rare collectibles, as the wealthy search for safe, long-term stores of value.
editorial-staff
1 min read
Updated about 1 month ago
The recent surge in art and classic car auctions, which topped $600 million, highlights a significant trend in asset allocation among high-net-worth individuals.
Experts indicate that the ongoing global turmoil, particularly related to geopolitical tensions, may be influencing this demand, as investors seek stable, long-term stores of value.
This shift in investment strategy underscores the resilience of the collectibles market, which continues to attract attention even in uncertain economic climates.