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Alternative Asset Investments
Unlocking Value Beyond Traditional Markets
From art and aviation to whisky and sustainability, a deeper approach to capital allocation.
Our clients investments balance both long- and short-term returns across a diversified range of alternative assets. Performance varies by commodity, while ownership also embodies status, rarity, and lifestyle value beyond pure capital growth.
Art
- Over the past decade, the art market has shown resilient long-term performance, although returns vary by segment. Studies indicate average values have risen by roughly 50–55% over ten years, allowing art to outperform many luxury assets. Blue-chip works have delivered relatively stable annualised returns of around 8–9%, supported by scarcity, global demand, and institutional participation. More recently, the market entered a cooling phase during 2024–2025, with activity shifting toward lower price points. Top-tier sales have become more selective, buyers increasingly cautious, and speculative excess has faded, reinforcing the importance of research, patience, and long-term conviction.
Automobile
- Over the past decade, the classic car market has shown strong aggregate growth, with average values increasing by approximately 120%. However, this headline performance masks wide variation between marques, production eras, and individual models. Rare, low-volume cars with notable racing history or cultural significance have, in some cases, appreciated by more than 300%, supported by limited supply and international collector demand. In contrast, more common vehicles, cars requiring extensive restoration, or models that have fallen out of favour have delivered more modest returns and occasional price corrections. As a result, originality, provenance, and condition, is critical to investment performance.
Aviation
- Over the past decade, the aviation market, particularly private and business aircraft, has experienced steady but segmented growth. Values in certain categories, including light jets, turboprops, and well-maintained vintage aircraft, have risen by an estimated 40–70%, supported by limited supply and renewed demand for private travel. Newer-generation business jets with long-range capability have seen stronger appreciation during peak periods. However, performance varies widely by aircraft type, age, maintenance history, and regulatory compliance. Older or less efficient aircraft have faced value pressure. Overall, aviation assets favour disciplined ownership, technical diligence, and long-term planning over short-term speculation.
Bloodstock
- The bloodstock market is highly polarised, with financial outcomes concentrated at the very top. A small number of elite horses, standout pedigrees, and leading breeders achieve exceptional sale prices and lucrative stud fees, while the majority of participants experience ongoing losses. Studies indicate average racing returns for owners are often negative, commonly around –20%, reflecting high training, veterinary, and operating costs. Breeders face similar pressures, with rising expenses and many yearlings selling below cost. Although North American yearling sale averages increased by roughly 46% between 2013 and 2023, this growth primarily reflects top-tier demand rather than broad investor profitability.
Crypto
- Over the past decade, the cryptocurrency market has experienced extraordinary growth, making it one of the fastest-appreciating asset classes in modern financial history. Although precise total market capitalisation figures from December 2015 are difficult to isolate, Bitcoin serves as a useful proxy, as it dominated the market at the time. Since then, Bitcoin’s price appreciation alone has exceeded 20,000%, illustrating the scale of value creation across the sector. To put this into context, a $1,000 investment in Bitcoin made in August 2015 would be worth more than $496,000 today. Despite extreme volatility, this performance highlights crypto’s disruptive potential and asymmetric return profile.
Eco
- Over the past decade to 2024, the green economy has grown rapidly, outperforming global equities with an estimated compound annual growth rate of around 13.8%. This has produced strong long-term returns, though with periods of volatility. Performance varies across subsectors such as green bonds, renewable energy infrastructure, and clean technology equities. However, capital has shifted decisively toward sustainable assets, with global clean energy investment now exceeding fossil fuels. Driven by decarbonisation targets, regulatory support, and energy transition demands, the eco market has become a major investment theme with compelling long-term potential.
Fx
- Over the past decade, the global foreign exchange market has experienced a substantial expansion in activity and scale. Measured by average daily trading volume, forex turnover increased by approximately 81%, rising from around $5.3 trillion per day in April 2013 to an estimated $9.6 trillion per day by April 2025. This growth reflects increased participation from institutional investors, central banks, corporations, and retail traders, as well as higher cross-border trade and capital flows. Advances in electronic trading platforms and liquidity provision have also supported rising volumes, reinforcing forex’s position as the world’s largest and most liquid financial market.
Jewellery
- Over the past decade, the global jewellery market has experienced steady and sustained expansion, reinforcing its role as both a consumer good and an alternative investment category. Market value has grown from approximately $116.3 billion in 2015 to a projected $288.5 billion by 2025, representing an increase of roughly 148% over ten years. This growth has been driven by rising global wealth, demand for gold and gemstone jewellery as stores of value, and increased interest in branded and collectible pieces. While returns vary by material, craftsmanship, and provenance, high-quality jewellery has demonstrated resilience and long-term capital preservation potential.
Marine
- Over the past decade, the global luxury yacht market has experienced significant growth and investment, rising by an average of 22% per annum between 2014 and 2022. The market was valued at approximately USD 6.58 billion in 2019 and is expected to reach an estimated USD 14.58 billion by 2030. his growth is driven by the rising number of ultra-high-net-worth individuals and an increasing demand for personalised, private luxury experiences. The market experienced a sales boom during 2021 and 2022, which led to an expansion of production capacity at shipyards. The current compound annual growth rate (CAGR) is estimated to be around 8.0% during the forecast period of 2025-2032 highlighting sustained robust growth.
Sin Stocks
- Over the past decade, rare whisky has emerged as one of the strongest-performing “sin stock” style alternative assets. Investment-grade whisky values have risen by more than 560%, with some indices reporting gains closer to 586%, significantly outperforming traditional assets such as equities and gold over the same period. Growth has been driven by limited supply, long maturation cycles, and rising global demand from collectors, particularly in Asia and the Middle East. Auction transparency and specialist funds have further supported the market. While liquidity can vary, top-tier bottles and casks have demonstrated exceptional long-term appreciation and portfolio diversification benefits.
Any advice, commentary, opinions, or figures provided are given for general guidance purposes only and do not constitute a formal valuation unless expressly stated. Such views are provided in the course of our estate agency role, are not prepared in accordance with the RICS Valuation – Global Standards (“Red Book”), create no liability to any third party, and formal advice will be clearly identified together with its purpose, assumptions, and limitations.
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