Financial crisis? Economic meltdown? These concepts mean nothing to some of the world’s wealthiest people. As you will see later in this article, it seems like nothing in the world affects them financially, especially when they splurge on items with absurd price tags.
The Knight Frank Wealth Report was released recently. It gives us an insight into what the high-net-worth individuals are splashing their cash on. These individuals have assets worth over $30 million or more. You would be considered in this ultra-exclusive bracket after you take home the SuperEna Max jackpot tomorrow night. (5th March) Use some of these inspirations when deciding what to start collecting after joining the ranks of the world’s most wealthy.
As you can imagine, wealthy people have a soft spot for over-the-top cars. There was a 490% increase in the cost of cars in the 10 years since the last Luxury Index report. Supercars to the value of over $1 million are popular.
The rich enjoy drinking the best wine in the world. They also like to invest in it. The luxury goods index showed a 241% price jump in wine spending over the last ten years. Many “investment-grade Bordeaux wines are recovering from the slump caused by the drop in Chinese demand.”
You wouldn’t expect it, but the wealthy really enjoy collecting valuable coins. They buy them as a long-term investment strategy. Prices for rare pieces have risen to a staggering 232% in the recent ten years. The first dollar coin ever issued by the US government in the year 1795 is the most expensive one ever to have been bought seeing that it carries with it a rich history and patriotic pride. It was sold for a whopping $7.85 million in 2005.
Art collecting comes as no surprise when you are mega-rich. Some prices for art pieces have risen as much as 226% in 10 years. Buying art is an investment strategy for the super-rich. The most expensive art piece ever bought was a painting done by Willem De Kooning. It sold for $300 million in 2015!
This isn’t only for nerds. Stamp collecting can also be quite lucrative. The world’s wealthiest people collect rare stamps like they do with coins. The most valuable stamp in the world is the “British Guiana 1 Cent Magenta”. It is the last surviving stamp from 1856. It’s worth over $8.9 million.
Whether it’s meant to sit in a vault or a mistress’s neck, the wealthy have always treasured gold because the mineral is seen as a safe haven. The most expensive item ever sold is the L’Incomparable diamond necklace and sold for $55 million.
Precious gems are always a favourite, but coloured diamonds are the new craze. The most expensive diamond ever sold was the Wittelsbach-Graff diamond. It sold for $80 million in 2011.
The most expensive way to tell the time is a millionaire’s favourite thing. The Breguet Grande Complication Marie-Antoinette is thought to be the world’s most valuable. Its price is around $30 million.
Strange? Not at all. Vases are a huge business. A vase forms the 18th century has sold for nearly £53 million in the year 2010.
If you’re living in a mansion, you need expensive furnishings to go with the house’s status.
A yacht is a right-of-passage for a millionaire. Who wouldn’t want a house on the sea? Chelsea Football Club owner Roman Abramovich is the lucky owner of the world’s most expensive operational yacht, The Eclipse. The cost? $1.2 billion.
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