New Survey Shows Buyers Investing in High-End Art and Antiques

LONDON—Britain's Royal Institution of Chartered Surveyors has announced the results of a new quarterly survey designed to track fluctuations in prices in the art and antiques market.

According to RICS, more consumers are investing in the art and antiques market, leading to a rise in lot prices.

“The arts and antiques market remains a viable investment option during this period of financial uncertainty," said RICS spokesman Christopher Ewbank. "Many investors are using their disposable incomes to buy in at the high end with the hope that value will continue to stay firm while stocks and bonds ebb and flow."

Twenty percent more surveyors reported a rise than a fall in lot prices across the board, while 50 percent more reported a rise than a fall for lots priced at £5,000 and above, which RICS says signifies that "consumers with disposable incomes are looking to purchase arts and antiques as long-term investments."

Performance in lower price brackets was more subdued, indicating that "amateur enthusiasts are reigning in their spending."

Within specific markets, silver, high-end furniture, and high-end ceramics all showed increases in prices, as did "picture lots" priced above £5,000, which surveyors linked to the interest in the "urban art market, with paintings form the likes of Banksy, Damien Hirst, Peter Doig, et al all selling in excess of £10,000."

Lower-end prices for pictures and ceramics, and prices for clocks, all showed decreases, again suggesting that consumers are looking for long-term investments.

For more on the report and its methodology, click here.