When it comes to collectibles, the best place to put your money in 2016 was in liquid assets — literally.
For the first time in at least five years, wine surpassed classic cars as the best-performing collectible asset class, according to The Wealth Report, an annual publication by the Knight Frank real estate firm.
Values for investment-grade wine jumped 24 percent last year. That compares with a 9 percent increase for cars, which ranked second. Coins were the third best collectible investment, recording 6 percent growth, followed by jewelry at 3 percent. Art had its worst year since the financial crisis, with values declining by 14 percent.
"Wine's stellar performance was driven by exceptionally strong growth in key areas across the world and in particular, the resurgence of the top Bordeaux chateaux, which form the backbone of most investment cellars," Nick Martin, of the Wine Owners cellar management company, told The Wealth Report.
Bordeaux prices had been on the decline following a pullback from Chinese buyers in 2011.