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Value of classic cars and fine art tumble, while musical instruments become hottest collectors' item

Classic cars are falling out of favour with collectors, with their value plunging by 10.4pc last year, according to new data.
The fall comes after years of demand that has made vintage vehicles one of the best investments since 2005, investment bank Coutts said.
Despite still being the top-performing asset in Coutts' index – up more than 330pc over the 12 years since the tracker began – collectors appear to be turning their attention to other assets, such as musical instruments and photographs.
Rare musical instruments came top of the table for price increases among collectibles in 2016, rising in value by 16.4pc last year. However, Coutts said the average prices for rare instruments have been volatile, with a fall of nearly 11pc preceding last year's increase.
Value of classic cars and fine art tumble, while musical instruments become hottest collectors' item

Stamps and fine wine continue to be some of the best collectibles for investors

Credit:
Rii Schroer
Classic collectibles including fine wine and stamps continued to do well last year, returning 9.6pc and 5.3pc respectively.
Photography has emerged as one of the hottest new investment areas among collectibles, Coutts said, as less established collectors are able to assemble collections without having to fork out huge amounts of money.
Brandei Estes, head of photographs at Sotheby’s in London, said: "It’s the nature of the work; it is the most democratic of art forms and because of the relatively accessible price points, it’s an attractive category for the growing middle market."
Alongside photojournalism, fashion photography is also the hot collectible of the moment, the report shows.
Value of classic cars and fine art tumble, while musical instruments become hottest collectors' item

Assets that didn't fare well last year include fine art, classic cars and rugs and carpets

Credit:
Coutts
Assets that didn't fare as well include fine art, with prices down 6.2pc last year, while modern and impressionist art fell around 8pc last year to stand 12pc below its 2007 peak. 
Old masters and 19th-century art returned 40pc less at auctions last year than before the financial crisis, making it the worst performer of all categories in the index. 
Collectors also appear to have lost interest in rugs and carpets with 2016 prices at an 11-year low.
Despite classic car price returns falling last year, prices at the very top end of the market remain robust, Coutts said, with 2016 seeing the highest ever price paid for a Ferrari 250 GT, with a rare 1961 SWB California Spider barn-find fetching $18.5m (?15.1m) at auction.
The Coutts Index captures the price return in local currency of 14 "passion" assets across property and alternative investments, such as fine art, collectibles (stamps, fine wine etc) and precious items (jewellery and watches).
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