What comes to mind when you hear the phrase “luxury item?” Do you think of gaudy gold-encrusted accessories? Do you picture designer clothes that look sleek, stylish, and professional? Or do you think of expensive forms of transportation such as yachts, sports cars, and helicopters?
If you have enough income to spend on luxury items, the best choices would be products that aren’t just designed to look appealing. The best luxury items are expensive because they are high-performance, high-quality goods. For example, designer watches are luxury items that add value to your everyday life while still looking sleek and stylish. Below, we outline 10 of our favorite luxury items that say you are definitely successful.
- A Designer Watch
A watch from a brand such as Bulgari, Audemars Piguet, and Rolex commands respect as a high-performance tool that is both fashionable and functional. Crafted from the finest raw materials, these watches inspire and give confidence to the wearer.
- Designer Business Wear
In addition to watches, designer business wear almost guarantees that you’ll make a striking first impression on any potential clients or business partners during meetings. There are many great options for men and women from brands such as Prada or Armani. Buying designer business clothes may not give you the same satisfaction as having a closet full of rare, expensive sneakers, but looking and feeling more confident and authoritative at work has its advantages.
- A Luxury Yacht
Other useful luxury items include high-performance watercraft. If you love sailing and hosting yacht parties on the open sea, a luxury yacht will be worth the cost. This could be written off as a business expense if you take clients out for a sail.
- A Luxury Auto
If you are a car enthusiast who loves high-performance vehicles, a Mercedes-Benz or Lamborghini will let you deftly navigate twisting roads in style. These types of cars are comfortable and they tell the world that you are in a specific income bracket. If you get stuck in traffic, you’ve got a gorgeous place to relax and listen to music.
- A luxury helicopter
A helicopter can bring a lot of value to your life. The super rich can own or rent one when needed. Of course, you’ll need to be in a certain income bracket for this item, but imagine arriving at work in a helicopter each day. Ensure you get to your chosen destination on time, skillfully avoiding traffic on the road. Smaller helicopters can be used for local city travel while larger ones could be purchased for flying longer distances.
- Gold Reserves
A great many wealthy people have a certain amount of gold preserved at their bank. There are always fears of stock market crashes and gold will usually keep its value regardless of the times. Investopedia says that gold matters in terms of the global store. It typically increases in value over time. It never gets consumed, like other items do.
Just like gold, diamonds tend to keep their value. They are usually just as valuable in China as they are in Australia. People in every country recognize the value of beautiful diamonds. This is another product that will not get used up or consumed like wheat or even a luxury auto. The super rich usually invest in diamonds having a value of $100K or more, which means a high carat size usually over 3 or 4 carats.
- Real Estate.
Real estate is always a good investment. The super rich usually own several properties in their favorite cities or if they are businessmen then they may own properties in the locations they most often visit. A beautiful apartment in New York City will increase in value quickly, as will property in the nice parts of Los Angeles or Seattle. However, the super rich often buy real estate as an investment or as a rental property to diversify their portfolios and increase income.
- Fine Wines
Like other luxury items, fine wines will always be in demand. There are certain bottles of wine that are worth a fortune. For instance a Cheval Blanc from 1947 is valued at around $300,000. A Chateau Lafite 1869 is around $230,000. For wines that you might actually consider drinking, certain wines are made in specific locations and they’re made in limited quantities which increases their value.
- Luxury Designer Purses and shoes
There’s a huge market for used purses and shoes today because the new items have become so expensive. They’re usually a good investment. Even as they get older, they can increase in value. People do favor certain brands like Prada. This brand has been around since 1913 and is made of the best Italian leather.