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


    YOU MIGHT ALSO LIKE

    Visualising every Saudi coalition air raid on Yemen

    Visualising every Saudi coalition air raid on Yemen

    Since March 2015, Saudi Arabia and a coalition of Arab states have launched more than 19,278 air raids across Yemen.

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    Why did Bush go to war in Iraq?

    Why did Bush go to war in Iraq?

    No, it wasn't because of WMDs, democracy or Iraqi oil. The real reason is much more sinister than that.