6 Items Rich People Always Pay Top Dollar For
Written by
Ashleigh Ray, AI Editor
Edited by
Ashleigh Ray
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
When it comes to spending habits, the affluent are in a league of their own. While most of us are hunting for bargains and clipping coupons, the rich often take a different approach to spending their money.
They’re not just splurging for the sake of it; they’re investing in quality, exclusivity and longevity. Keep reading for a look into the areas where the wealthy pay top dollar.
Tailoring
Think about it, when was the last time you saw a mogul sporting off-the-rack suits? Rarely, if ever. For the rich, bespoke tailoring is not just about clothing; it’s a statement.
A custom-made suit or dress is tailored to perfection, ensuring not just an impeccable fit but also exclusivity in fabric and design. It’s not uncommon for these personalized ensembles to cost a small fortune, but for the rich, the confidence and prestige that come with wearing something made just for them are worth every penny.
Real Estate
The adage “Location, location, location” couldn’t be truer for the wealthy. They’re willing to pay top dollar for prime real estate.
Whether it’s a penthouse in a bustling city or a sprawling estate in the countryside, affluent buyers look for exclusivity, luxury and, most importantly, an investment that appreciates over time.
These lavish investments double as a status symbol, often including things like top-notch security and luxurious amenities.
Luxury Vehicles
For the wealthy, a car is more than just a means of transportation. It’s also an extension of their personality and status.
You may have noticed high-net-worth individuals often go for the latest models from top-tier brands like Rolls Royce, Bentley or Ferrari. While these brands are known for speed and luxury, they’re also about craftsmanship, renown and a level of customization that makes each vehicle unique.
Fine Art and Collectibles
Rich individuals often have an eye for more than just the aesthetic value of art. They understand that a piece by a famous artist is not just a decoration but also an asset that can appreciate over time.
The art market can be volatile, but for those who have the means and the knowledge, collecting art is a way to diversify their investments while also enjoying the beauty and status that these pieces bring to their homes or private galleries.
Education
When it comes to their children, the rich spare no expense. A top-tier education, from elite private schools to Ivy League universities, is often on the list of non-negotiables for these families.
But it’s not just about the name; it’s about the connections, the opportunities and the doors these institutions open for their graduates. The rich understand education is more than studying and learning. It’s setting up the next generation for success.
Health and Wellness
Wealthy people don’t skimp on their well-being. We’re talking about personalized healthcare, with access to top medical professionals, regular check-ups with specialists and even high-end wellness retreats designed to rejuvenate the body and mind.
For the rich, the goal isn’t just to live longer. In putting their money towards their health, the rich ensure their quality of life is as luxurious and comfortable as possible.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
More From GOBankingRates
