4 Luxury Collectibles Rich People Buy
You may collect stamps or coins or vintage toys, but the collectibles of the rich often cost more than the average person could afford.
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Whether they collect these items as investments or just as status symbols, these are the luxury collectibles favored by the rich.
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Fine Art
Many art collectors are high-net-worth individuals who are willing to shell out big bucks to add to their private collections. According to the Art Basel and UBS Survey of Global Collecting, the median expenditure on fine art and antiques by high-net-worth collectors reached $65,000 in the first half of 2023.
“The acquisition of masterpieces by renowned artists such as Pablo Picasso, Vincent van Gogh and Andy Warhol is often driven by a combination of passion, prestige and the potential for substantial returns on investment,” said Abid Salahi, co-founder of FinlyWealth.
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Watches
Watches are far more than a simple accessory to the wealthy individuals that collect them.
“Watches, particularly those crafted by prestigious Swiss watchmakers like Patek Philippe, Audemars Piguet and Rolex, are another coveted collectible among the wealthy,” Salahi said. “These timepieces are not merely functional accessories but true works of art, embodying centuries of horological expertise and exquisite craftsmanship. The rarity and exclusivity of certain models, coupled with their potential for appreciation, make them highly sought-after investments.”
Rare Books and Manuscripts
Literature and history lovers with money to spare will often splurge on their collections of rare books and manuscripts. These collections can include first editions of classic novels or handwritten notes from some of history’s greatest minds.
Vintage Cars
You might have one or two cars in your household, but many wealthy people like having a plethora of cars to choose from — and they like to drive the best of the best. That’s why many high-net-worth individuals favor collecting vintage versions of luxury car models.
“Vintage automobiles, such as rare models from Ferrari, Bugatti and Mercedes-Benz, are highly prized by automotive enthusiasts and collectors alike,” Salahi said. “The combination of engineering excellence, rarity and historical significance makes these vehicles true works of art on wheels, commanding staggering prices at prestigious auctions.”
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