They don't make it anymore

Last year a 1962 Ferrari 250 GTO sold for USD 51.7 million, a bottle of Macallan Adami 1926 sold for USD 2.7 million and a Patek Philippe watch sold for USD 8.5 million. Despite these record-breaking sales, luxury collectibles in aggregate decreased 1% in price last year. However, over the last ten years, the Knight Frank Luxury Index, a proxy for luxury collectibles prices, is up 100%. Nonetheless, on average luxury collectibles have a hard time keeping up with a collection of publicly listed companies. Only rare whisky bottles outperformed the S&P 500 in the past decade. On a global measure, wine and watches also outperformed the MSCI All-Country World Index.

Source: Knight Frank, 2024.