A president with expensive tastes is proving no guarantee for luxury assets.
Even Donald Trump is having trouble getting a good price for his Ferrari. A 2007 F430 F1 Coupe once registered to Trump Towers left the sales block without meeting its reserve price at a Florida auction last month.
As sales of the Italian supercars — which make up what portfolio manager and car collector Sean Gambino refers to as the “most robust” end of the classic car market — stagnate for the first time since the financial crisis, pricey Manhattan apartments are lying unsold and European Impressionists can’t be shifted.
From automobiles to art to property, here’s a look at how luxury investments are holding up.
The Liv-ex Benchmark Fine Wine 100 Index fell 0.5 pe rcent to £302.69 in April, ending a 16-month winning streak.
“After a sustained period of...