They say: you can’t have your cake and eat it, too. But, what if you can?
Luxury items are those things that we all can live without. They’re expensive and unnecessary, but highly coveted. They serve as a creative way to display one’s wealth without the need to boldly parade one’s cash or savings account.
But, despite what one may think, there are luxury items out there that appreciate in value over time, thus serving as a good investment on top of being utilized as a status symbol.
Investing doesn’t have to be boring, and here are luxury items that are worth investing in:
Jewelry made from precious metals
Jewelry has been popular among humans for centuries, and they have no signs of losing value any time soon. Precious metals like gold increase in value during economic and financial depressions. Jewelry items made of gold and platinum are thought to be the best investments because they hold their value over time. By purchasing jewelry, you have something that can be used as currency, inheritance, and investment in one.
If you’re the type of person who appreciates a good painting, display piece, or any artwork, then investing in fine art may be an investment you should consider. As with any good investment, research should be done to reduce the risk, such as making sure that the art pieces you buy are authentic. Purchasing artwork from well-known artists is most likely to increase in value. The good thing about investing in art is that you can buy something you love, display it for a long time, and still get to enjoy high returns.
Luxury real estate
As with everything related to real estate, the important thing to consider is location, location, location! A high price doesn’t automatically mean it will appreciate in value after some years. Properties that are unique, highly exclusive, and are located in high-end settings are those that serve as great investments. More than a long-term investment, luxury real estate could also serve to produce income for you because of its high rental value.
Yes, there’s a good investment in alcohol! But to make good money from investing in fine wine, you have to hold on to them for the long term to reap the benefits. Fine vintage wine sold at auctions delivers high returns, and the most expensive wine ever sold was a 73-year-old bottle of French Burgundy priced at $558,000, 17 times its original value estimated at $17,000.
Diversifying your portfolio is necessary, but can be interesting and fun, too! However, investing in these luxury items is not for the faint of heart, nor for those who are only starting out in the world of investing. It would be best to be done by the more advanced investors who are likely to be the experts when it comes to investing.