Should I Invest In Contemporary Art, Gold, or Fine Wine?
It’s not easy to decide whether you should invest in contemporary art, gold, or fine, especially if you’re just starting. Ideally, it’s a good idea to have an investment portfolio as diverse as possible, yet that’s also hard to do when first starting.
Invest in Gold If You Want to Protect Your Assets
Generally, investments in gold are not thought to have that much potential to bring in loads of money right away, but are rather regarded as ideal investments for protecting your possessions. Gold has been, is, and will continue to be for years to come highly valuable. So individuals wishing to withstand economic turmoil can convert their assets into gold, knowing that the price of the precious metal is unlikely to decrease substantially. Gold is considered a fairly safe investment, its value being constantly on the rise, as demand grows and production dwindles.
Invest in gold especially if you have a large quantity of highly valuable assets whose future value is doubtful.
Invest in Contemporary Art If You Want Both Protection And Revenues
Alongside fine wine investments, contemporary art investments are one of the most tricky to pull of. Yet they can be highly rewarding, not only financially, but also spiritually. The thing is you have to enjoy art, and to have an eye that spots good art, the only one which is worth investing in. To invest in contemporary art you do need money, yet comparatively less than with other types of investment, say gold for example. The wonderful thing about art investments is that you can make a lot of money from a piece which you have previously purchased at a bargain. Of course this is easier said than done. Ultimately, having a knack for art is a must if you want to invest in contemporary art profitably.
Invest in Fine Wine if You Are Willing At Any Moment To Drink Your Wine
Generally safe and profitable, fine wine investments are increasingly popular especially in the UK. The revenues from such investments have almost tripled between 2005 and 2010, indicating a healthy market mostly unaffected by the economic downturn. Yet fine wine investing is not easy to carry out: it requires a deep knowledge of wine makers and their bottles, buyers, traders, and insiders. You can invest in fine wine with fewer risks than in most other types of alternative investments, but this only if you’re a wine lover who will be just as happy drinking his own fine wine as selling it (in case the investment goes bad).