Mixed trends in luxury collectibles

New York

YOU'D have thought negative interest rates would fuel a boom in diamonds, antiques and fine wine, as people look for an alternative to stuffing cash under the mattress. But you'd be wrong: prices for all three are falling.

While some "collectibles" such as vintage watches, luxury handbags and old cars are holding up pretty well, others are struggling. The phenomenon of safe havens not always proving the best place to hide was explored by Gadfly colleague Nir Kaissar recently, who questioned gold, cash and real estate.