In this article:
2025 was a strong year for the markets. The S&P rose 15%, driven by solid corporate earnings and tech stocks. Gold reached record highs. Tech and AI dominated, delivering some of the best returns we’ve seen in years.
But it wasn’t a smooth ride. Wars, trade tensions and doubts over interest rates kept markets nervous and investors on edge. A feeling likely to continue in 2026.
Crypto: Milestones and Market Reality
Crypto made headlines again in 2025. Bitcoin reached new all-time highs in the first half of the year, surpassing $120,000, fueled by interest from institutions and clearer regulation. Later in the year, investor sentiment shifted and a sharp correction pushed prices back to $90,000.
Though crypto remains one of the most popular alternative investments, it proves to be suited for those who are prepared for the strong ups and downs.
Tokenisation & Fractional Ownership Take Off
Real-world asset (RWA) tokenisation continued growing in 2025, supported by institutional backing from big firms such as BlackRock and Blackstone. The value of tokenised RWAs grew from around €5 billion in early 2025 to an estimated €16–30 billion by year-end.
Fractional ownership gained traction across private credit, real estate, and collectibles. The result: more access, more transparency and a clear move towards portfolios blending traditional investments with digital and real-world assets.
2025: Collectibles Keep Growing
Amid geopolitical tension and economic uncertainty, collectibles stood out for one simple reason: they are tangible, scarce and real. When everything becomes uncertain, capital moves toward objects that can be seen, owned and preserved. In 2025, this shift became visible on a global stage, with record-breaking auctions across every major category — driven by rising demand from ultra-wealthy collectors worldwide:
Collectors’ appetite concentrated on the exceptional and capital went towards assets with cultural significance, provenance, and scarcity. Liquidity in the market also deepened, sustained by interest from younger demographics such as Millennials and Gen Z.
Fine Art: The fine art market was under pressure in 2025, with tariffs, shipping disruption, and tighter trafficking laws made cross-border trade harder. At the very top, however, confidence returned. Both Sotheby’s and Christie’s closed the year ahead of 2024, with auctions up 26% year-on-year. Buyers focused on classic names, trophy works, and single-owner collections. The Middle East emerged as a key growth engine, with new fairs, expanded auction activity and institutional investment positioning the region as one of the market’s most promising drivers into 2026.
Classic Cars: The car market showed a clear split. At the top, prices stayed strong, highlighted by the 1954 Mercedes-Benz W196R Streamliner selling for over €51 million. But beyond blue-chip icons, the market had a big correction: global values fell by around 10%. 2025 marks the end of the post-COVID boom and the return of a buyer’s market. For investors, this creates opportunity: better entry prices, more choice and a good foundation for long-term value.
Memorabilia & Other: Memorabilia closed 2025 strong. Movie props and sports collectibles made headlines, which attracted new buyers and pushed prices. Darth Vader’s screen-used lightsaber achieved approximately €3.4 million and Sotheby’s NBA auctions passed €8.5 million in total sales.
Sneakers: The sneaker market has matured. Prices for true “grails” (limited SB Dunks, early Jordan collabs, artist editions) have stabilized, with stronger demand for Deadstock pairs and complete sets. Authentication and provenance matter now more than ever. Trophy pieces and designer collaborations continue the upward trend observed last year, with Sotheby’s selling Michael Jordan’s six Finals-clinching “Dynasty Collection” for $8m, a record for game-worn sneakers. The Louis Vuitton × Nike AF1 sale totaled $25.3m, with a single pair reaching $352,800.
Watches: The 2025 secondary watch market continues to stabilize. Demand is shifting toward dress watches, high complications, as well as mid-luxury pieces. Gen-Z has enlarged the market’s buyer base. Auctions stayed strong: Top-10 auction houses accounted for a volume of c. $853.5m, with Phillips leading the charts with $278.3m. Momentum is building, setting a strong base for 2026.
Whiskies: Rare whisky remains the top-performing luxury investment of the past decade with nearly 192% growth. In 2025, Macallan and The Glenlivet dominated auctions, with the latter setting a record at €775,000 for its “Spira” 60-Year-Old. Demand is also increasingly shifting to “silent distilleries” like Brora and Japanese icons such as Yamazaki, whose ultra-ages Mizunara releases reached €173,000.
Fine Wine: The demand in 2025 was stronger for rare, high-scoring curvées with limited production. Blue-chip vintages from Italy and the Rhône outperformed. Headline auctions from William I. Koch ($28.8m) and Jacqueline de Rothschild Piatigorsky ($11.16m) show that collectors are giving preference to provenance-rich, drinkable vintages.
2025 was a year of clear momentum for Timeless investors. We delivered 29 successful exits (+45% YoY), generating an average gross ROI of 24.6% (+2.6 pp YoY). With an average holding period of 22 months, these exits translated into approximately €130k in profits paid out (+61.7% YoY).
Some of our exit highlights ranked by gross profit in 2025:
For a complete report of our exit highlights from 2025, click here.
Some of our assets resonated so strongly with our community that they sold out within minutes.
We continue working to develop our platform to deliver the best experience to you. In May last year, we inaugurated the Timeless Marketplace, which included some of our biggest and rarest drops to date with outstanding partners.
Our highlights:
Rolex Day-Date Ref. 1803 Oxblood Stella
Maison Louis LatourCollection 2020 & 2021
