From Watches To Whisky: India’s Super Rich Invest 17% Of Their Fortunes In These 10 Things

Most of us cannot even imagine what the world of the rich and famous look like. What would you invest in if you had a huge amount of wealth lying at your behest? Probably, property and other assets to secure a future.

Do you know about the spending habits of India’s ultra-rich?

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Well, as per Knight Frank, 17 percent of the ultra-rich invest their money in luxury goods - namely watches, art and jewellery!

During a virtual press conference, Knight Frank unveiled 'The Wealth Report 2024,' revealing that 17% of the investable wealth of Ultra-high Net Worth Individuals (UHNWI) in India is dedicated to luxury or passion investments.

Individuals classified as Ultra-high Net Worth Individuals (UHNWI) possess a net worth of USD 30 million or more(Rs 248 crores approx).

Luxury Watches Are The Most Coveted Investment Category For Super Rich

According to the survey, the primary motivation behind investments in luxury assets by Indian Ultra-high Net Worth Individuals (UHNWIs) is the satisfaction of ownership. The most sought-after investment category among these individuals is luxury watches, closely followed by art and jewelry.

Number of ultra-rich in India increased 6% last year to 13,263, according to Knight Frank??

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Classic cars are at 4th position, followed by luxury handbags, wine, rare whisky, furniture, coloured diamonds, and coins.

However, on a global scale, the super-rich show their preference for luxury watches and classic cars.

Knight Frank India Chairman and Managing Director Shishir Baijal said in a report, "India's affluent class has long shown a fondness for collectibles spanning various categories. With both domestic and global markets offering significantly higher returns for such items, India's ultra-wealthy are actively pursuing investment opportunities in areas aligned with their passions." The demand for rare collectibles is on the rise across different age groups in India, he added.

"... as wealth continues to grow in the country, we can anticipate further investments in these asset classes," Baijal hoped.

List of top 10 things that India’s wealthiest people invest in:

1. Luxury Watches

2. Art

3. Jewellery

4. Classic Cars

5. Luxury Handbags

6. Wine

7. Rare Whisky

8. Furniture

9. Coloured diamonds

10. Coins

(With PTI inputs)

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