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| The growth of luxury investments by country. (WealthInsight) |
Thanks to Jing Daily, above is a graphic that provides an interesting adjunct to this blog’s Monday October 7 posting about the growth rate of luxury investing in various countries. The graph plots the growth rates for both the past and prospective five years for each country, as well as depicts the relative sizes of the markets. As shown, India leads the pack looking both backwards and ahead, chased closely by Indonesia. Interestingly, Hong Kong has shown ripping growth in the past few years, but looks to slow (by its standards) in the years ahead. The non-Asian nations? With a few exceptions, they seem positively plodding by comparison.
Those seeking further confirmation of the trend of Asians storing their wealth in pretty things need look no further than the just-completed Sotheby's luxury goods auction in Hong Kong. The event resulted in total value of over US$500 million, including a 118-carat white diamond that sold for a record $30.6 million. With the value of financial assets looking increasingly suspect due to the shenanigans of governments and financial institutions around the world, stashing cash in the form of a flawlessly cut rock may end up being a brilliant strategy.
Those seeking further confirmation of the trend of Asians storing their wealth in pretty things need look no further than the just-completed Sotheby's luxury goods auction in Hong Kong. The event resulted in total value of over US$500 million, including a 118-carat white diamond that sold for a record $30.6 million. With the value of financial assets looking increasingly suspect due to the shenanigans of governments and financial institutions around the world, stashing cash in the form of a flawlessly cut rock may end up being a brilliant strategy.
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