In 2024, luxury investments have become not only an expression of prestige, but also a smart move in diversifying the portfolios of the world’s richest people. What do luxury investments look like in 2024? Instead of traditional assets such as real estate or stocks, a growing number of ultra-high income earners have turned to unique collectibles. They are not only beautiful, but also represent strong investment assets.
Luxury investments in 2024?
Watches
Watches by Patek Philippe, Rolex or Audemars Piguet have been recognized for years as the safe and prestigious investments. In 2024, one of the most spectacular purchases took place at Sotheby’s. The Patek Philippe Grandmaster Chime reached a price of $5.4 million. This unique watch not only impresses with its intricate mechanics, but also has a unique history. It previously belonged to Sylvester Stallone, which significantly increased its value.
The best ones also have value represented in the bullion and stones used to create them.
Diamonds and jewelry
For years, jewelry has been one of the most solid forms of investment. In 2024, one of the most interesting purchases was an Eden Rose 10.20-carat Fancy Intense Pink diamond ring, which sold for $13.3 million at a Christie’s auction. Limited edition jewelry, especially with diamonds in unique colors, often turns out to be more valuable than the estimated value.
It is also worth noting that investments in diamonds are becoming increasingly popular because they offer a hedge against inflation and economic crises. In addition, jewelry is often part of a historical legacy. This makes it attractive to both the investment market and collectors.
Art
Art is one of the most profitable luxury assets. The 2024 sale of Leonora Carrington’s painting,Les Distractions de Dagobert, reached a dizzying price of $28.5 million. Artistic works, especially those from established artists, have for years attracted the attention of the richest collectors. They treat it as a form of investment and the realization of a passion.
The art market, especially modern and contemporary art, is not only showing a steady increase in value. It also facilitates portfolio diversification. Buying artwork is a way to achieve prestige, as well as to invest in unique items that are immune to financial market fluctuations.
Wines
Wine, especially from the oldest vineyards, is one of the most long-lasting luxury investments. In 2024, a bottle of 1972 Domaine de la Romanee-Conti La Tache sold for a record $150,000 at a Bonhams auction. Wine of this quality is rare, and its value increases over the years, especially if it comes from the most renowned vineyards.
Memorabilia
Sports and cultural souvenirs are growing in popularity, offering unique investment opportunities. The record purchase in 2024 was Babe Ruth’s “Called Shot” jersey, which sold for $24.1 million. This kind of memorabilia, especially those associated with major sporting events, has tremendous value not only emotionally, but also financially.
Luxury News Editor
Joanna Baran
Source: relevance.digital
