Member Article

Study shows treasure chests of wealthy across regions

Barclays has published the findings of a study into treasure assets held in each of the UK regions.

Differences across the regions have been attributed to traditions, heritage and trends, as well as overall levels of wealth.

In the North East and Yorkshire, respondents had a lower propensity to hold treasure than in many other part of the UK, however over a third of wealthy individuals in the area have held treasure in wine collections in the past five years; the highest proportion in the UK.

The area is home to the highest proportion of stamp collectors, and respondents indicated they were less likely to hold treasure assets in order to be ‘shown off’, in contrast to London, where a quarter of treasure is held to be ‘shown off.’

In the Midlands, over one tenth of treasure assets held by respondents in the region is done so for financial reasons.

More respondents here invested in classic cars than anywhere else in the UK, as well as antique furniture and fine art pictures and paintings.

The Midlands was also shown to have the strongest appetite to invest in fine art sculptures, with 28% of respondents agreeing they would like to acquire sculptures.

Elsewhere, the North West had fewest treasure assets held for enjoyment reasons, with more being held for investment purposes.

Despite this, 38% of treasure in the region is held for cultural reasons, while nearly one third (31%) of treasure is owned in order to bequeath to children or grandchildren as heirlooms.

The North West also showed that 21% of respondents have coin collections, the highest in the UK.

In the South West and Wales high net worth individuals in the South West and Wales hold around 4% of their total wealth in treasure, among the lowest in the study.

35% of treasure assets here are held in order to be bequeathed as heirlooms; the highest of all regions.

Respondents in this area also showed value attached to their possessions, as for precious jewellery, holders were require a significant 73% increase in value in the first year after purchase to entertain the idea of selling it, whilst only a 100% increase in precious metals would prompt a sale.

In comparison, individuals in the North West would sell their precious metals if they saw an increase of just over a third (38%) in value.

Interestingly, the South East is a region of ‘social treasure collectors’ as 23% held treasure in order to be shared with friends.

61% of respondents here said they would loan some of their possessions to a museum or exhibition, if asked.

Again, jewellery, fine art, wine collections and classic cars were among the most popular treasure types among respondents.

Overall, enjoyment purposes were cited as the key reason for treasure holding, as were passing onto the next generation and cultural reasons; both ranking above financial value.

This was posted in Bdaily's Members' News section by Tom Keighley .