We’ve all done it: with the full knowledge that we are torquing the truth and stretching the term, we have described extravagant purchases of desire as an “investment”.
Take the ubiquitous diamond engagement ring, often described as an investment, even though, at least when you buy it, you have no intention of selling it and collecting a return on its increased value. Common is the man, also, who sticks to the argument that the Porsche he is buying is not just a shiny toy, but a vault-solid investment, despite the fact that most cars depreciate off a cliff the moment you drive them.
The pleasing fact is, however, that if you do invest wisely in luxury items – things that will bring you joy in a way that stocks and shares can’t – you can achieve fantastic returns.
According to Knight Frank’s ‘The Wealth Report 2020’, as markets become more volatile, the ultra-rich are increasingly looking to park their cash in so-called ‘investments of passion’. There is perhaps no better example of describing a heart purchase as a head one than the humble handbag. Andrew Shirley, editor of ‘The Wealth Report’, explains that Kelly and Birkin handbags from the house of Hermès are no longer a desirable fashion item, but “an investment class in their own right”, with some fetching as much as US$300,000 (A$486,000) at auction. “Collectors are prepared to spend hundreds of thousands of dollars on the rarest or most desirable bags,” Shirley said.
This story is from the May 2020 edition of The CEO Magazine - ANZ.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 2020 edition of The CEO Magazine - ANZ.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
There Were No Unknowns For Us
Putting discipline at the core of figurehead construction helped it survive both the global financial crisis and the covid-19 pandemic, says managing director Joe Grasso.
The Future Is Digital
We are watching a lot more television as a result of the pandemic, but as the senior vice president, head of streaming for 10 viacomcbs Liz Baldwin explains, the way we view it has totally changed.
The Ultimate Investments
With the global economic recovery from the pandemic underway, many analysts are suggesting now is the time to invest – but will whisky, soybeans or bitcoin find a way into your portfolio?
Once in a LIFETIME
CO-FOUNDER AND MANAGING DIRECTOR OF INTEGRITI PROJECTS ANDREW STENOS IS BUILDING MORE THAN BESPOKE HOMES. HE’S ALSO BUILDING DREAMS FOR CLIENTS WHO KNOW EXACTLY WHAT THEY WANT.
PUTTING FAMILY FIRST
COUNTRY LIVING HOMES MANAGING DIRECTOR MARK RAVENSCROFT HAS OVERSEEN IMPRESSIVE GROWTH, BUT NEVER LOST SIGHT OF WHAT MAKES THE SOUTH AUSTRALIAN CONSTRUCTION BUSINESS SUCH A SUCCESS.
“A SAFER COMMUNITY IS MY MAIN PRIORITY”
ULTIMATE SECURITY CEO NASSIM SAID HAS BUILT A HIGH-TECH SECURITY ORGANISATION FROM THE GROUND UP, ALWAYS WITH COMMUNITY SAFETY IN MIND AND AN INSISTENCE ON FAMILY VALUES.
We Did It Our Way.
WHEN STEVEN SIMEONI FOUNDED TAS CITY BUILDING, HE KNEW HE WANTED TO DO THINGS DIFFERENTLY.
FROM PRECISION TO PREZZEE
A COMMERCIAL PROPERTY BARON AT 24, PRECISION GROUP BILLIONAIRE SHAUN BONÉTT HAS BUILT HIS CAREER ON UNDERSTANDING THE RETAIL MARKET. NOW HE’S INTRODUCING PREZZEE, THE DIGITAL GIFT CARD PLATFORM THAT’S CHANGING THE WAY WE GIVE.
HIGHWAY STAR
IN REGIONAL AUSTRALIA, WHERE TRUCKS ROUTINELY NAVIGATE VAST STRETCHES OF HIGHWAY, THE ROAD BETWEEN AGRIBUSINESS AND COMMUNITY IS SHORT. DENILIQUIN FREIGHTERS IS AN OLD HAND AT THAT ROUTE, WHICH CEO VICKI MEYER SAYS IS ITS MOST IMPORTANT ONE.
BENEATH THE SHEETS
A GOOD NIGHT’S SLEEP GOES A LONG WAY TOWARDS MENTAL WELLNESS, AND AH BEARD CEO TONY PEARSON BELIEVES THE OFT OVERLOOKED MATTRESS IS THE ESSENTIAL INGREDIENT.