herald

Tuesday 12 December 2017

Rich investing in art and jewellery

MILLIONAIRES in Ireland are saving 10pc of their personal wealth in assets such as fine art, precious jewellery, and antique furniture.

New research from the Wealth Insights series from Barclays reveals that Ireland is in line with global averages.

But in the midst of the global crisis, the really rich are unsure where to pump their money.

A total of 73pc of Ireland's high-net-worth individuals, who have €1.25m in disposable liquid investments, said that they find it is difficult to invest in things that will remain secure in terms of financial value.

Six out of every 10 Irish millionaires said that they invested in precious jewellery, followed by fine art and antiques.

The head of wealth management at Barclays Ireland, Pat McCormack, said: "Treasure may, if you're lucky or very knowledgeable, give you a financial return, but buy something you enjoy and it will always give you an emotional return."

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