Passion investments: In Singapore, what are wealthy families collecting?
According to a survey conducted by Knight Frank, Singapore families are most likely to collect watches, followed by art, wine and jewellery.
Here in Singapore, a recent survey conducted by Knight Frank found that watches is the most attractive category when it comes to passion investments.
As part of its Attitudes Survey in Q4 2020, Knight Frank surveyed over 600 private bankers, wealth advisors, intermediaries and family offices managing approximately US$3.3 trillion (S$4.4 trillion) on behalf of ultra-high net-worth individuals (UHNWIs) across the globe.
In Singapore, it emerged that 79 per cent of wealthy families are most likely to collect watches. Art and wine (57 per cent respectively) both placed second, while jewellery (50 per cent) came in third.
Here’s a ranking of the popularity of each category:
- Watches: 79 per cent
- Art: 57 per cent; Wine: 57 per cent
- Jewellery: 50 per cent
- Rare whisky: 36 per cent
- Handbags: 29 per cent; Classic cars: 29 per cent
- Coloured diamonds: 7 per cent; Furniture: 7 per cent
- Coins: 0 per cent
Overall in Asia, watches also emerged as the most popular form of passion investment. Art came in second place, followed by jewellery in third. Classic cars however came in fourth place, while wine came in fifth.
Interestingly, although luxury handbags emerged as the highest performing asset class when it comes to passion investments, it placed seventh in Asia. You can read the findings here.
In Singapore, only 29 per cent of respondents indicated that they were most likely to collect handbags.