Antiques valuation 'proving profitable'
It has been revealed that greater numbers of investors are going to auctions.
People who have had an antiques valuation carried out of some of their personal belongings may find that putting them up for auction is more profitable now than ever before.
According to the Royal Institution of Chartered Surveyors, an increasing number of investors are heading to sales to find pieces in which to invest, as they represent good returns.
It was found that 26 per cent more surveyors saw a rise in antique and art prices in the third quarter of the year than those who witnessed drops.
Chief economist with the organisation Simon Rubinsohn described the market as buoyant, with buyers continuing to "invest in material assets during uncertain economic times".
The best-performing sectors include silver, jewellery and precious metals, with only contemporary art reporting a negative price balance.
However, this did not seem to apply to the recent sale of a Lucian Freud painting of Jerry Hall, entitled Eight Months Gone, which beat its antiques valuation to sell for £601,250.
Posted by Lisa Marriott