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Thursday, July 11, 2024

Five luxury gifts to yourself that could be good investments

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Everyone likes to treat themselves every once in a while. You might, for instance, have just received a pay rise or bonus at work, or be celebrating an important life event such as a graduation or anniversary. However, in addition to looking nice and providing a memento of a certain event, your gift to yourself could also be an investment that works doubly hard for you in the long run, particularly if its value has increased if you ever want to sell it. To give you some ideas, here are five luxury gift ideas that could be good investments for the future.

1. Jewelry

Perhaps the most classic idea of a luxury gift is piece of jewelry. Bracelets, necklaces, and rings are all classic pieces that age well without dating as fashions change. There is a large second-hand and antique market for jewelry if you do eventually decide to trade it in. Look for pieces made from high-value materials such as 22- and 24-karat gold and white gold, and perhaps even diamonds; however, bear in mind that the price for precious metals can be volatile and could fluctuate wildly on a day-to-day basis. 

2. Watches

As with jewelry, there is a huge market for second-hand luxury watch brands such as Rolex and Omega. If you are planning on buying a luxury watch with the intention of reselling it at a later date, make sure that you regularly clean and maintain your investment, and avoid including any engravings that, whilst increasing the personal value, could decrease the monetary value.

3. Luxury cars

It is most people’s dream to own a luxury car, with brands such as Aston Martin, Lamborghini, and Ferrari having enviable and understandable reputations as top-class models. However, if you do eventually reach a point where you would like to trade in your luxury car for a new model, you simply have to contact your local second-hand car dealer. There is a huge market for second-hand luxury cars and many dealers who specialize in selling exotic cars will help you to receive the best price for your investment.

4. High fashion

If you are interested in fashion and always make time to read Vogue and watch the seasonal catwalks, then investing in a piece of haute couture might be for you. Make sure you do your research and choose a designer that appeals to your personal style, whether that is punk-chic Vivienne Westwood or Italian glamor Giorgio Armani. Also look for classic designs that will look timeless rather than dated and old fashioned as trends change.

5. Artwork

As with fashion, if you have a keen eye for design, then building up an art collection could prove to be a worthwhile investment. The key is to do your research and become actively involved in the art world, as by doing this you will quickly get to know who the up-and-coming artists are whose artwork you should be investing in.

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