Data Study · Reference
Passion asset statistics, 2026
How have passion assets performed over 10 years?
Directionally, rare whisky has led the past decade, with fine wine and watches close behind; classic cars — long a co-leader — corrected sharply in 2023–24, while art and handbags sit in the middle and jewellery and coloured diamonds lower, per Knight Frank's Luxury Investment Index. The blended index rose roughly 39% over ten years, so the category leaders well outran the average. The figures below are approximate and rebased between editions — treat them as a directional map, not a benchmark, and note that returns concentrate in the finest examples rather than the category average.
| Category | Indicative 10-yr change | Note |
|---|---|---|
| Rare whisky | ~ +190% | Decade leader — but well off its 2021–23 peak (then ~280–430%) |
| Fine wine | ~ +145% | Burgundy and top Bordeaux led |
| Watches | ~ +135% | Allocation-only sport models drove it |
| Classic cars | ~ +185%* | *Long-run co-leader; a sharp 2023–24 correction pulled the current reading lower — the most edition-sensitive category |
| Art | ~ +90% | Blue-chip and post-war strongest |
| Handbags | ~ +85% | Hermès Birkin/Kelly lead the segment |
| Coloured diamonds & jewellery | ~ +45% | Steadier, lower-amplitude |
Approximate, directional figures aggregated from recent Knight Frank Wealth Report / Luxury Investment Index editions (2025–2026); the blended index rose ≈38.6% over ten years (Knight Frank, 2026). The index is periodically rebased and figures differ by edition — verify against the current primary source before citing in formal work.
What are the record sale prices for passion assets?
Unlike index returns, category records are well-documented and verifiable through the auction houses. The table collects the headline record for each major passion-asset class as of mid-2026.
| Category | Record | Item | Sale |
|---|---|---|---|
| Art | $450.3M | Leonardo da Vinci, Salvator Mundi | Christie's, 2017 |
| Car | ~$142M | Mercedes-Benz 300 SLR Uhlenhaut Coupé | RM Sotheby's, 2022 |
| Jewel | $71.2M | CTF Pink Star diamond | Sotheby's, 2017 |
| Coin | $18.9M | 1933 Double Eagle | Sotheby's, 2021 |
| Handbag | €8.58M | The original Birkin (Jane Birkin's) | Sotheby's, 2025 |
| Watch | CHF 31M | Patek Philippe Grandmaster Chime 6300A | Only Watch, 2019 |
| Whisky | £2.1M | The Macallan 1926 | Sotheby's, 2023 |
How big is the passion-asset market?
Large and growing. Art and collectible wealth held by ultra-high-net-worth individuals reached about $2.56 trillion in 2024 and is projected to reach $3.47 trillion by 2030, inside a broader alternative-assets industry that now exceeds $20 trillion under management. The buyer base is widening fast — roughly 89 new UHNWIs are created every day.
| Metric | Figure | Source |
|---|---|---|
| Art & collectible wealth (UHNWI) | ~$2.56T (2024) → ~$3.47T (2030) | Deloitte / Funds Society |
| Alternative assets under management | >$20T (2024) | Cherry Bekaert |
| Global UHNWI population | ~510,810 (2025) → ~676,970 (2026) | Altrata Ultra Wealth Report |
| New UHNWIs created | ~89 per day (2021–2026) | Knight Frank Wealth Report 2026 |
| Allocation to art & collectibles | ~10% of HNW wealth (toward ~20% across all passion assets) | Capgemini / Knight Frank |
| The Great Wealth Transfer | ~$84–124T through 2045–2048 | Cerulli / industry estimates |
| Global art market (2025) | $59.6B (+4% YoY) | UBS / Art Basel |
| Fractional-ownership market (projected) | $354–423B by 2031–2033 | Industry forecasts |
Indicative, as reported by each source; figures span different years, regions, and definitions of "passion asset."
What do investors think about passion assets?
Increasingly, they treat them as a safe haven. In a 2024 survey of 320 sophisticated UK investors, 68% considered passion assets more secure than traditional asset classes and 82% called diversifying into them "a good bet for the future." Among the ultra-wealthy, demand — and borrowing against these assets — runs higher still.
| Sentiment | Share |
|---|---|
| Consider passion assets more secure than traditional assets | 68% |
| Call diversifying into them "a good bet for the future" | 82% |
| Prompted to consider them a safe haven by economic concerns | 74% |
| Increasing their passion-asset investment | 38% |
| UHNWIs who have already borrowed against passion assets | 67% |
| Most bullish categories | Jewellery & watches, art, classic cars |
Source: Fladgate LLP survey of 320 UK investors and 170 advisers (reported via IFA Magazine, 2024).
FAQ
Passion asset statistics — quick answers
How have passion assets performed over the last decade?
Directionally, the strongest category over the past decade has been rare whisky (around +190%), with fine wine and watches close behind; classic cars were a co-leader but corrected sharply in 2023–24, while art and handbags are more modest and jewellery and coloured diamonds lower, as reported by Knight Frank's Luxury Investment Index. The blended index rose about 39% over ten years. Returns concentrate in the finest examples, and the index is periodically rebased, so figures vary by edition.
What is the most expensive passion asset ever sold?
By category: art — Leonardo's Salvator Mundi at $450.3M (Christie's, 2017); car — the Mercedes-Benz 300 SLR Uhlenhaut Coupé at about $142M (2022); watch — the Patek Philippe Grandmaster Chime at CHF 31M (2019); handbag — the original Birkin at €8.58M (Sotheby's, 2025); coin — the 1933 Double Eagle at $18.9M (2021).
What share of wealth do the ultra-wealthy hold in passion assets?
Wealth reports indicate ultra-high-net-worth individuals typically hold a meaningful minority of net worth in investments of passion — commonly cited in the low double digits as a percentage — spanning art, cars, watches, jewelry, and wine. The figure varies by source, region, and how "passion asset" is defined, and is best treated as directional.
Are these passion asset statistics reliable?
The record sale prices are well-documented and verifiable through the auction houses. The return figures are directional, aggregated from public indices such as Knight Frank's Luxury Investment Index and Deloitte's Art & Finance reports, and vary by edition and rebasing. Verify against the current primary source before citing in formal work.
How big is the passion asset market?
Art and collectible wealth among ultra-high-net-worth individuals reached roughly $2.56 trillion in 2024 and is projected to reach about $3.47 trillion by 2030, within a broader alternative-assets industry exceeding $20 trillion under management. The buyer base is growing by an estimated 89 new UHNWIs a day (Deloitte, Altrata, Knight Frank).
Do wealthy investors consider passion assets a safe haven?
Many do. In a 2024 survey of sophisticated UK investors, 68% considered passion assets more secure than traditional asset classes, 82% called diversifying into them a good bet for the future, and 74% said economic concerns had prompted them to treat passion assets as a safe haven. Sentiment is strongest among the ultra-wealthy (Fladgate).
Sources & further reading: Knight Frank Wealth Report and Luxury Investment Index; Deloitte Art & Finance Report; Altrata World Ultra Wealth Report; Capgemini World Wealth Report; Fladgate LLP investor survey; UBS/Art Basel Art Market Report; Christie's, Sotheby's, RM Sotheby's, and Phillips results. Figures are indicative or as reported; record prices are verifiable through the auction houses. See our editorial standards and what passion assets are.
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