_The Wealth Report launches in Sydney at the Paspaley boutique

The event was attended by 120 of our top clients, along with 30 members of the team. It was a great success, and highlighted Knight Frank’s unique, market-leading research on a global and local scale.

Lord Andrew Hay, Global Head of Residential and Liam Bailey, Global Head of Research presented the key findings of the report to our guests:

The Luxury Investment Index

• Whisky | 40% rise in Knight Frank's Rare Whisky 100 Index. In November 2018 a single bottle of The Macallan sold for A$2.2 million
• Art | In November 2018 Hockney's Portrait of an Artist sold for A$128 million, a record for a living painter
• Jewellery | In July 2018 the Marie Antoinette pearl pendant sold for A$51 million, the most expensive pearl jewellery sold at auction
• Classic cars | In August 2018 a 1962 Ferrari 250 GTO sold at auction for A$69 million, the most expensive sold at auction
• Diamonds | In November 2018 The Winston Pink diamond sold for A$71 million, setting a global record

The world's wealthy

• A new UHNWI is created every hour globally and every three days in Australia
• There will be an extra 43,000 people worth more than US$30 million by 2023
• 8 out of the 10 fastest growing wealthy populations are located in Asia
• 29% of UHNWIs are considering a second passport
• 22% of UHNWIs are planning an international purchase on 2019 with the top target destinations being US, UK and Australia
• 45% of would be buyers in Asia saw Australia as their top destination
• The number of purchases over US$25 million has hit its highest quarterly sales since 2016 with record sales in Singapore, Paris, London, Hong Kong and New York in the past six months

The Residential team hosted the evening, which paid homage to pearls, whisky and wine, which all feature in the report’s Luxury Investment Index. Guests were treated to a whisky experience by The Dalmore and had the opportunity to try on the pearl jewellery Paspaley has to offer while enjoying wine from finewine.co.