Luxury items can be one of the best ways to put your money to work, with the right investments adding value to your investment portfolio. Not every item appreciates in value over time, so it is important to do your research prior to purchasing if buying an asset that will appreciate is one of your requirements.
Reasons For Investing in Luxury Items
Besides financial investment, there are many other reasons why you may choose to invest in a luxury item. Several studies have shown that investing in luxury can trigger psychological reactions such as a sense of wealth, exclusivity and status. For some, it can offer a sense of accomplishment, for example it could be something you have worked hard towards saving for, or could be purchased as a well done present to yourself.
Luxury Items That Appreciate In Value
It can be difficult to decide which items you should purchase, with the aim of increasing their value. If in doubt, always speak to a specialist within that sector, or a financial advisor. Here are our top 5 recommendations:
Jewellery
Jewellery, such as different metals and stones can be a great asset to invest in. Do some research or speak to a specialist about what types of gems are rare and appreciating in value- and aim to pick up a piece containing that gem or metal.
Luxury watches
Rolex watches have not only become a symbol of wealth, they also ooze style, sophistication and success. With various different styles and colours to choose from, it is an excellent investment if you choose to sell yours in the years to come.
Fine art
It is a great time to be buying art– with many investors finding joy in owning a masterpiece that is so unique and by well-respected and admired artists. Go to an art sale, and get a feel for the type of pieces that are going to appreciate in value, speaking to various experts to support your decision prior to purchase.
Vintage wine
Vintage wine is a great investment for wine enthusiasts. The only disadvantage is you will need to hold on to these for a while, however the longer you keep them for, the more they will increase in value. The older and more refined the bottle, the better.
Real estate
Why not invest in real estate, whether this is a house for yourself such as a holiday home, or a buy to let investment. With only a 25% deposit needed for a buy to let, this could be a great way to further get on the housing ladder and begin creating another stream of income. Speak to a mortgage advisor today about the different opportunities that are available to you.
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