For many successful people, making money is only the beginning. Once they have it, another pressure appears: use it the right way. Avoid anything that looks frivolous.
The result is a strange contradiction. People can achieve financial freedom and still feel that someone else is setting the rules for how they should leverage it and enjoy it. That conversation is becoming harder to ignore as collectibles find a larger place in discussions about wealth.
The Deloitte Private and ArtTactic Art & Finance Report found that 51 percent of wealth managers surveyed now offer art-related services, compared with 25 percent in 2011. The report also points to younger collectors placing greater importance on cultural impact and legacy over financial returns. Seventy-two percent of next-generation collectors said they increasingly value those factors over financial returns.
That does not mean every watch or collectible should be treated as an investment. A 2025 study published on SSRN, examining 13 major watch brands from January 2019 to September 2024, found significant differences in performance across brands. To me, that reinforces an important point: the category alone tells you very little.
What matters is understanding the particular piece, its market, and what makes it desirable. But I think the bigger mistake is managing wealth by using outdated rules and only looking at one or two types of opportunities. Wealth should also give people greater freedom to decide what matters to them.
If someone understands the risks, can afford the decision, and genuinely values what they are buying, there is nothing irrational about wanting an asset to bring experiences, relationships, or enjoyment as well as the possibility of only traditional ROI. My own relationship with watches and cars changed the way I think about this. I once sold a Porsche I loved because I believed the market had reached a point where selling made more sense than keeping it.
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