Want a 'Recession-Proof' Investment? Buy a Stradivarius
We've all felt the pinch of the Great Recession. Maybe you feel it most in the dwindling value of your home, or maybe your stock portfolio just seems a lot lighter than it once did. AÂ recent report on Prospero, the arts and culture blog ofÂ The Economist, claims rare violins have weathered the economic downturn better than other types of investments. Market values for these instruments reportedly rose during the recession, the New York violin dealer Paolo Alberghini toldÂ Prospero:
During the recession, wealthy people lost so much money on stocks and property, but the ones who owned rare violins didn't lose a penny. In fact, they made money. These instruments are recession-proof.
So if you happen to have an extra $16 million or so in your pocket, don't rule out the rare instrument market as a safe investment harbor. Read more: A High-Strung Market (Prospero)