LONDON, Aug. 9 (UPI) -- The value of collectables is soaring, especially as an investment hedge against inflation, officials of the British firm Collins Stewart say.
Collins Stewart, the world's oldest stamp dealership, Friday reported a 6 percent rise in profits to $3.5 million in the first half of 2008, including a 12 percent rise in rare stamp and memorabilia sales to $18.8 million, The Guardian reported. The reason is that collectibles are becoming a better investment in a time of rising inflation.
"The benefits of investing in collectables as an alternative asset class have never been clearer," Collins Stewart Chairman Martin Bralsford told the newspaper. "Not only do rare stamps and historical signatures provide a means of diversification and a safe haven in difficult economic conditions but also provide a hedge against inflation."
Some of the firm's first-half sales included papers with King Henry VIII's signature for $96,000 each, while Albert Einstein's autograph fetched $11,500 and actress Audrey Hepburn's signature went for $3,400, the newspaper said.
Even Madonna's material has risen in value by 156 percent since 1997 to $1,700 for an autograph, the company reported.
