Millionaires’ Lucrative Shopping Sprees: New Trend for Luxury Goods

Millionaires’ Lucrative Shopping Sprees: New Trend for Luxury Goods

The rich are not only in the habit of adding up to their collection, in fact they are thinking business in the process.

"The value of many categories of investments of passion rose and HNWIs (high net-worth individuals) made acquisitions for the aesthetic and emotional appeal and their potential to return value," Capgemini and Merrill Lynch said in the World Wealth Report 2011 published last week.

And, so millionaires are multi-tasking while in the process of acquiring their prized possessions.  The demand in art materials such as paintings and sculptures, for luxury watches, vintage cars, rare wines and other offbeat investments has soared up in the year 2010.

This definitely goes on like a trend in the millionaire’s society, considering that the Chinese who are producing more millionaires each year are getting interested with fancy European cars such as Ferrari and Mercedes-Benz.  They are also particularly interested in bidding for art products to acquire fast-diminishing supplies of native art.

Since Asia has surpassed Europe with its number of millionaires, and this kind of activity is going on in the Asian millionaires’ society, then we can expect this to continue as the Asian markets are soaring higher each time and more people acquire 7-digit worth of bank accounts.

Meanwhile, jewelleries and precious stones are also getting higher stakes and are considered to be good means of investment  considering that there is a rising cost for its raw materials.

Posted by Melanie Mendoza on Monday June 27 2011, 2:55 AM EST. Ref: Reuters. All trademarks acknowledged. Filed under Shopping. Comments and Trackbacks closed. Follow responses: RSS 2.0