Afrasia Bank has released a new report on global wealth – looking at the investments, habits, and hobbies of the world’s richest people.
The report showed that art collecting is currently the most popular pastime for high-net-worth individuals (HNWIs) – those individuals with wealth exceeding $1 million.
Over the past few years cycling, watch collecting, fly-fishing and car collecting have also become more popular, whilst golf, tennis and horses have become less popular among the world’s wealthy.
These are the most popular hobbies right now according to interviews conducted with HNWI intermediaries:
- Art collecting
- Yachting and sailing
- Collecting cars
- Fishing and fly-fishing
- Collecting watches
Afrasia Bank estimates that the global top-end art market is valued at around $75 billion.
“According to our in-house indices, global fine art prices have risen by 18% over the past 10 years (in US$ terms),” the bank said.
“Globally the leading artists (in terms of price) include the likes of Leonardo da Vinci, Vincent van Gogh, Pablo Picasso, Claude Monet, Rembrandt, Renoir, Cezanne, Andy Warhol, Jackson Pollock and Gustav Klimt.
“The ‘Mona Lisa’ by Leonardo da Vinci and ‘Starry Night’ by Vincent van Gogh are arguably the most valuable paintings in the world. However, neither of them have ever come up for auction. They are considered priceless.”
Popular watch brands for collectors include the likes of: Patek Philippe, Breguet and Vacheron Constantin.
“Vacheron Constantin is considered to be the oldest watch maker in the world – it was founded in 1755,” said Afrasia Bank.
“Patek Philippe, which was founded about 100 years later (in 1851) tends to achieve the highest prices, both for classic watches and new watches.”
“The global classic car market is valued at around $5 billion,” said Afrasia Bank.
“According to our in-house indices, classic car prices rose by a strong 150% over the past 10 years (in US$ terms), making it the best performing investment class for wealthy people globally.”
Popular classic cars for wealthy car enthusiasts worldwide are listed below (ranked by price in US$).
- Ferrari 250 GTO (1960s): $24,000,000
- Ferrari 250 GT California Spider (1960s): $18,000,000
- Bugatti Royale (1930s): $16,000,000
- Porsche 917 (1970s): $10,000,000
- Ferrari 166 Barchetta (1950s): $9,000,000
- McLaren F1 (1990s): $8,000,000
- Porsche 550 Spyder (1950s): $2,000,000
- Mercedes Gullwing 300sl (1950s): $1,900,000
- Porsche 959 (1980s): $1,500,000
- Ferrari F40 (1990s): $1,400,000