Rich people commonly buy ten things: sports cars, designer clothing, watches, penthouses, diamonds, yachts, art, collectibles, sports teams and islands. Here is each category with the biggest recent prices we can document, from a $31 million watch to a $10 billion basketball team.
What would you buy first if money were no concern? Some people keep it practical. Wealthy buyers often follow a pattern, treating luxury items as both a hobby and an investment, as long as values keep rising. Prices run well into the millions and sometimes billions.
What rich people commonly buy: record prices
| Category | Record or notable price |
|---|---|
| Cars | 1955 Mercedes 300 SLR Uhlenhaut Coupe: 135 million euros (2022) |
| Watches | Patek Philippe Grandmaster Chime 6300A-010: $31 million (2019) |
| Penthouses | 220 Central Park South unit: $238 million (2019) |
| Diamonds | Pink Star: $71.2 million (2017) |
| Yachts | Koru: reported $500 million or more |
| Art | Salvator Mundi: $450.3 million (2017) |
| Collectibles | T206 Honus Wagner card: $7.25 million |
| Sports teams | Boston Celtics: $6.1 billion (2025); Lakers: $10 billion valuation (2025) |
Prices are the most reliable figures we could document for each category, not typical purchases.
10. Sports cars
The car is the most common status purchase, and rich buyers pay for it even when they are not car people. Prestige and pride are the point: pulling up in an exclusive car says something about wealth and taste that a house cannot say as loudly. Some owners drive theirs weekly, others treat them like family heirlooms. At the top, cars are investments. A 1963 Ferrari 250 GTO changed hands in a private sale in June 2018 for a reported $70 million, and a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe was sold privately in 2022 for 135 million euros, the most ever paid for a car.
9. Designer clothing
A beautiful car needs someone dressed for it. Top designers cut suits and gowns to the buyer’s measurements for the occasion, and the result is as comfortable as it is polished. Celebrities often wear designs for free as brand ambassadors, while everyone else pays. Haute couture gowns can run to tens of thousands of dollars each.
8. Wristwatches
Prestige on the wrist. Watches have been men’s status accessory for decades, and many women buy exclusive watches in place of jewelry. Some prices defy belief: the Patek Philippe Grandmaster Chime Ref. 6300A-010 sold at Christie’s in Geneva on November 9, 2019 for US$31 million, the most ever paid for a watch at auction. Tennis star Rafael Nadal wore a Richard Mille tourbillon on court, a watch that weighs about 20 grams.
7. Penthouses
A home is the fortress where rich people keep their possessions and their net worth. They choose the most expensive areas for prestige and privacy. A penthouse adds security, services and views. In 2019, hedge fund manager Kenneth Griffin bought a $238 million unit at 220 Central Park South in New York, which was the most expensive home ever sold in the United States at the time.
6. Diamonds
Diamonds and other gems are jewelry, and some buyers treat them as a store of value or a trading chip with other collectors. Prices can be huge. The Pink Star diamond sold at auction in Hong Kong on April 4, 2017 for US$71.2 million to Chow Tai Fook Enterprises. The Hope Diamond, a 45.52-carat blue stone on display in Washington, has no public price, because it is not for sale.
5. Yachts
Owning a yacht is a statement of wealth, but it is also about adventure and being on the water with friends and every convenience. The costs are big. Amazon founder Jeff Bezos’s sailing yacht Koru, a 127-meter vessel delivered in April 2023, is reported to have cost at least US$500 million, with annual running costs in the tens of millions.
4. Art
A fine piece of art hangs in most rich homes. Buyers compete at auction for pieces of history, and some do it for the pride of ownership. In 2006, hedge fund manager Steven Cohen paid $137.5 million for Willem de Kooning’s Woman III. In November 2017, Leonardo da Vinci’s Salvator Mundi sold at Christie’s for US$450.3 million, the record for any painting at auction. On November 18, 2025, Gustav Klimt’s Portrait of Elisabeth Lederer sold at Sotheby’s for US$236.4 million, the most ever for a work of modern art at auction.
3. Collectibles
Rich people also collect gemstones, antiques, coins, books, vinyl, stamps and trading cards. Once a collection begins, it is hard to stop, and the hunt for the next item spans the world. A T206 Honus Wagner baseball card, one of the rarest in existence, has sold for $7.25 million.
2. Sports teams
After the property, the cars and the art, the next step is a team. A franchise brings prestige, pride and business income. In May 2025, the Boston Celtics were sold for $6.1 billion, a record at the time for a North American sports franchise. A month later, Mark Walter agreed to buy majority control of the Los Angeles Lakers from the Buss family at a $10 billion valuation. Celebrities have bought into teams for years too: Jon Bon Jovi co-owned the Philadelphia Soul from 2004 to 2010, and Russell Crowe bought into the South Sydney Rabbitohs in 2006.
1. Islands
When a penthouse is too small and a yacht too short on adventure, buy an island. Leonardo DiCaprio bought the 104-acre Blackadore Caye in Belize in 2005 for a reported $1.75 million, with a plan for a restorative eco-resort powered by renewable energy.
Which of these would you buy first? Tell us in the comments.
Keep reading
- 15 things rich people do that poor people do not: habits behind the purchases
- 15 things that change once you get rich: what happens after the first yacht
- 15 things you buy that make you richer: the opposite of status spending
FAQ
What do rich people commonly buy?
Cars, designer clothing, watches, penthouses, diamonds, yachts, art, collectibles, sports teams and islands are the ten categories on our list.
What is the most expensive car ever sold?
A 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, sold privately in 2022 to a collector for 135 million euros.
What is the most expensive watch ever sold at auction?
The Patek Philippe Grandmaster Chime Ref. 6300A-010, at $31 million in Geneva on November 9, 2019.
What is the most expensive painting ever sold at auction?
Leonardo da Vinci’s Salvator Mundi, which sold for $450.3 million at Christie’s in November 2017. The most expensive modern work is Klimt’s Portrait of Elisabeth Lederer at $236.4 million in November 2025.
Why do rich people buy sports teams?
Teams offer prestige, entertainment, access and income. Valuations have climbed: the Boston Celtics sold for $6.1 billion in 2025, and the Lakers were valued at about $10 billion in a majority-stake deal that year.
Are luxury purchases good investments?
Some, like art and rare collectibles, have appreciated, but values can fall and fees are high. Treat these figures as records, not expectations.
Last updated: October 2026.
