There’s a quiet but impactful revolution in the world of wealth—new and seasoned investors in India are including fine art and collectibles such as rare books, watches, silverware, antiquities, jewellery, and limited-edition prints in their portfolios. While the most significant share for auctions worldwide still constitutes paintings, many in the business are realising the potential of including a diverse range of collectibles within the fold.

A SILENT DIVERSIFICATION
In 2025, fine art performed at a high level, achieving many records, most notably for the Progressive Artists’ Group. According to the Deloitte-ArtTactic 2025 report, luxury collectibles is one of the fastest-growing segments in the auction world. It’s growing by 2 to 6 per cent year-on-year. Another 2025 report by Art Basel and UBS highlighted the same, and most auction houses are seeing a growth of 20 to 25 per cent in the category.

RETHINK THE ‘HEDGE’
Analysts and experts agree that art can be seen as an ‘inflation hedge’, as works of art appreciate in value over time, getting recognised not only for the financial value but also for the artist’s provenance, the rarity of the work, the emotional resonance of the artwork, and the artist’s journey, among other aspects. That said, there’s no denying that art continues to attract attention—in India, textile art, for instance, is gaining prominence among collectors, as is tribal art.

Art is also an asset class given that many are passing on their prized collections within the family to future generations. To illustrate: the college-going daughter of a celebrity recently got an F.N. Souza paperwork from the 1960s as a birthday gift from her father, in a bid to start building a collection. Ditto for an earlier auction where a phone bidder bought Gogi Saroj Pal’s 1980s work to gift it to his mother on her birthday.

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According to a report by Financial Times, Swiss watch exports fell in other key markets globally in 2024, but they grew exponentially in India. “Exports to the country rose 20 per cent in value, year on year, in the first seven months of 2024 to $165 million (₹1,452 crore), compared with a 2.4 per cent fall globally. And that export value represents a 41.4 per cent increase on the same period in 2022—the largest rise recorded by the Federation of the Swiss Watch Industry for any market, over such a timescale,” mentioned the Financial Times report.

At online auctions, luxury watch brands are performing better, as witnessed by the higher number of watches sold by AstaGuru in 2024-25. Their curation includes the world’s best-loved brands, including Patek Philippe, Audemars Piguet, Breguet and more. AstaGuru’s online auction model has become the benchmark for collectors of rare watches, with some timepieces garnering prices upwards of ₹1 crore ($113,636).

Additionally, brands are enhancing their retail presence. IWC Schaffhausen, a 150-year-old Swiss watch brand, opened its first boutique in India, at Jio World Plaza in Mumbai. Breitling opened two new boutiques in Chennai and Hyderabad. Many centuries-old legacy brands are making a significant investment in India. Additionally, India’s agreement with the European Free Trade Association reduces the custom duties substantially, a reason why premium watch brands are making a strong case for the traditional brick-and-mortar retail push in the country, besides the e-commerce platforms to whet the appetite of the customers.

There’s another story ticking in the premium watch segment…

Read the full story in the inaugural issue of LuxeTrope, on stands now.