If you’re looking to invest and grow your money, there are a number of options out there, from savings accounts to stocks and shares or buying and flipping property. The question is, what is the most lucrative investment option for you?
Well, if you’re the type of person who likes luxury goods, you’re in luck, because bought right, you can buy cars, watches and wine and actually make money on them over time, as luxury goods not only hold their value, but many of them can even increase in value. So there’s no reason not to buy them. As long as you take care of your items, look after them carefully then if you need to sell them in the future, you shouldn’t have a problem. Keep reading to see where else you could be investing your money instead of stocks or property.
In the world of watches, there are some timeless pieces worth investing in that will look good on your wrist while appreciating in value. Of course, there is no better and more reliable make than a Rolex. There are particular Rolex models that you should keep your eye out for, but the Rolex Submariner is very successful and rarely lose value as well as being able to be worn as an everyday watch. The Rolex Deep Sea Dweller is another one which has increased in value for some people. If you’re investing in a Rolex, make sure you have a decent Rolex Watch Repair shop on hand, they will be able to advise you on all things Rolex and how to keep it in it’s the best condition. Tag Heuer and Patek Philippe are other brands that could see potential rises, so do your homework before you part with your money and make sure you invest wisely.
This means you can’t drink it, but if you want to have an impressive looking wine collection, even a wine cellar, then start finding out which wines are going to make you the most money. Buying and selling rare wines can be easy but they are not a quick investment, and it’s often recommended to wait at least five years before trading. The best performing wines at auction have been known to increase 150% value. The most famous wines are the 1990 Krug’s Vintage Brut, the Petit Mouton by Chateau Mouton Rothschild from 2011, and the Domaine de la Romanée-Conti’s Grands Echezeaux from 2006. If you don’t know much about wine, then it can be an excellent hobby to get into as well as helping with investments. You will meet new people, travel to new places and learn about new things.
Classic cars are a sound investment as the prices have been rising for years, and in some cases, cars have been a better investment for buyers than gold. For example, if you bought the 1973 Porsche 911 RS Carrera 2.7 in 2004, then you would have paid $100,000. However, in just ten years, that car’s value had skyrocketed to $780,000. Other cars worth looking into are older Ferraris and Lamborghinis, not to mention muscle cars from the 60’s, all which have steadily risen in value. There are many classic car events each year, so it’s good to go and have a look and get an idea of prices and where you can get them from.
If you’re going to get something to hang on the wall in the living room, then it may as well be making money for you while it’s there. In the past, art has usually been sold through galleries or at auction. However, it has become increasingly popular to sell art online now. Established artists will likely see more money, however you should also look at the current market to see what’s popular at the time. For example, street artists like Banksy are hot right now, so you would make a pretty penny if you had a piece of street art to sell. Keep an eye on the market and see what’s happening so you can make sure you buy and sell the right pieces at the right time. Just like the other investment options, if you’re not clued up on art, then it’s something that you should spend some time getting yourself familiar with. It can also be an excellent hobby to have and can open up opportunities for you; you never know how many new people you will meet and what they will add to your life.
Always fancied a boat and have enough spare cash to splurge on one? Just like a classic car, a boat can increase in value while providing you will some great fun and memories. If you can’t afford a top-notch boat, you could buy a fixer-upper which needs some TLC and spend time fixing it up and painting it to bring the value up. Of course, you’ll probably want to enjoy it before selling it on, which is fine, so keep up the maintenance, and you’ll be fine.
So the next time you see these flashy people with fancy cars, watches, boats and fancy wine cellars, don’t just assume that they have money to burn. They may have actually made some wise investments and are watching their money grow while also enjoying the benefits that come with these luxury items. Of course, with any huge investments, it’s very important to do your research, talk to experts and know what you’re spending your money on. Diamonds and jewelery are something else you could be investing in, but you really need to know your stuff. If in doubt, consult someone you know and trust who knows what they’re talking about.