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

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.