Investors turn to fine art as safe haven

Artworks sold for record prices as wealthy buyers increasingly abandon property and gold.

It has been said that there are three traditional investments: property, gold, and art.

For decades, property was the favourite among investors, but then came the US housing crisis and many people turned to gold. But now, gold prices have slumped.

Judging by an auction in New York, art may now be the preferred safe haven.

Al Jazeera’s Gerald Tan explains.

Source: Al Jazeera