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Investers may look to Art and Jewellery

The Royal Institute of Chartered Surveyors’ (RICS) has published its Art and Antiques Survey which may not make happy reading for those planning to cash in on their art collection any time soon.

According to the survey, the credit crunch has impacting on the upper end of the art and antiques market, with surveyors reporting that sales of pieces above £50,000 had collapsed.

The survey showed that the jewellery sector had remained sturdy with just one per cent more chartered surveyors reporting a fall than a rise in the market. It claimed that buyers continued to see jewellery as a long term alternative investment to the stock market, but that they were becoming more selective in purchases as the credit crunch hit home.

Another key factor for the downturn according to the survey was the static housing market which had led to a decline in the number of goods being offered at auctions. The slowdown in the amount of goods offered at auction is reflective of the lack of activity in the housing market.”

Although the opposite view, that a static housig market, can lead to a surge in the sale of artwork. People are trying to uplift the mood and invest in their current properties by buying statement pieces of artwork.

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