Classic cars, vintage wine keep pace with gold's gains
The Economist's valuables index, which tracks coins, stamps and violins, is up 54% since the first quarter of 2009, close to gold's gain of 60.2% right after the financial crisis.
The admittedly illiquid and often subjective index is weighted according to the types of assets a rich individual would typical hold.
Out of the seven luxury items tracked, classic cars were up the most, up 53% since July 2011.
Gold started 2009 at US$853 per ounce. It is now trading just under $1,400 per ounce.
Luxury items are a tricky asset class. Art can fall out of favour. Carrying costs are higher. There is storage, insurance and high transaction fees.
However, an old Les Paul guitar or a vintage Lamborghini can be a lot more fun to own than a stock certificate.
Image by John Nuttall