LONDON, Sept. 3, 2020
LONDON, Sept. 3, 2020 /PRNewswire/ -- It's no secret that the lockdown and COVID-19 as a whole has taken a huge toll on the financial sector, with investing in stocks and shares now akin to buying a lottery ticket, and banks offering just about the lowest rates they can that still qualify as 'growth'.
Investors as a whole are running scared of losing money, with no clear idea of what the market is doing now, and certainly not in the near future.
Predatorial brokers and advisors are assuring those looking for options that everything is still 'fine' and that those regular avenues are still the smart options, but the truth is very far from this tale being woven. UK Assets Group have found no need to tempt investors through their doors with elaborate promises, as their sector is seeing growth that even they had not foreseen.
The truth of the matter is that all investment vehicles are struggling apart from one specific field: tangible assets.
Most people will have heard of the strength of gold (and precious metals in general) and there is truth to this statement. Gold has always been considered a 'safe haven' and is a cornerstone of every bank and country's economy, but the truth is that Gold is at an all-time high right now. There is certainly scope for further increase, that much is true, but this is not the smartest 'tangible' asset to invest in right now, and UK Assets Group can attest to this.
UK Assets Group specialise in another, equally strong, yet almost overlooked tangible asset group – investment grade artwork.
Since the lockdown they have seen a 300% increase in completed investments prior to March 2020, and this only looks like growing as the 'secret' of investing in art becomes more widespread.
The facts and figures are there for all to see. The art market has historically ridden out all market crashes and economic downturns relatively unscathed. The industry as a whole has been on an upward curve for close to a hundred years, with no signs that this is coming to an end anytime soon.
The recent COVID-19 and subsequent recession have also failed to affect the art market in any noticeable manner.
In July, auction records were broken in subsequent weeks as Christie's and Sotheby's both initiated new digital platform auctions, with Christie's alone totalling sales of £335 million and realising 'unprecedented levels of bidding not seen before'.
This, coupled with the average prices of Picasso, Banksy and Warhol pieces increasing by ~40% since pre-COVID further highlights the strength of the market.
UK Assets Group have seen the number of enquiries received reflect this market growth, but almost exponentially higher, to the point where they have had trouble keeping up with the demand. Their experienced trading team specialises in established and blue-chip artists, and their London office is currently a hive of noise as their phones ring off the hook asking for further information.