Billionaire Bling-Bling – A New Asset Class?

The Hope Diamond: Wonder what The Smithsonian wants for it?

Jewelry is a must-have for the new crop of billionaire and hectomillionaire hedge funders. That's one finding from a new Prince & Associates survey reported in the Wealth Report blog. Ninety-nine percent of those surveyed invested in jewelry last year, spending $580,000 on average. Almost all expect to spend at least as much this year.

As we noted here last summer, brokers and private banks are beginning to treat jewelry as a new asset class. Looks like they're on to something.