It is a sad fact that with most purchases, their value starts dropping the minute you step out of the store. As soon as you drive that brand-new car away from the dealership, the value starts dropping and will continue to do so every year that you own it.
Fortunately, this is not true of all the purchases that you make. In this post, we will have a look through purchases that will not lose their value very quickly.
Diamonds are a girl’s best friend for a good reason. They are easy to carry and store and will retain their value over time. Uncut is the best option when it comes to maximum value, especially if you can buy them wholesale.
But where is the fun in keeping a bunch of stones in your safe deposit box? Wearing your diamonds is a far better way to enjoy your investment.
You have to be careful of where you get the diamonds from. A lab-grown stone won’t maintain its value as well, and a stone from a conflict zone could land you in hot water. Which are both excellent reasons to stick to diamond jewelry instead.
A Rolex, or another top-brand watch, does maintain its value over time. Rolexes are the best because they are usually limited issues. So, indulge in a bit of watch shopping with complete confidence. Do your research ahead of time and see which brands offer limited editions and excellent quality.
Think of this purchase as something that will become a family heirloom.
Some Designer Handbags
It might come as a surprise to you, but a Chanel, Louis Vuitton, Hermes or Gucci handbag can become an instant classic. Even if it doesn’t, these brands do tend to maintain a steady value over time. Some can even increase in value as they become rarer after a few years.
Okay, so traveling is not technically a retail purchase, but it does offer you a way to broaden your experiences and learn more about the world around you. No travel is wasted, not even if the trip was a complete disaster, because of the experience you gain.
At worst, you will have an amusing anecdote to tell people about how everything on your trip seemed to go wrong. At best, you will have fantastic memories and photos to share.
This can be a tough one if you don’t know what you are doing. How do you make sure that the artwork you are buying actually appreciates in value? It does take some research on your part to know which artists are becoming collectible.
Van Gogh, for example, could barely sell a painting during his lifetime and yet now his work sells for millions. It is a good idea, however, to stick to a simple rule – buy art because you like it. That way, if it doesn’t appreciate in value, it still has value to you.
There are not a lot of things that we can purchase that do actually maintain their value over time. We have listed out top five things here for you. But we do also suggest that you factor in the lifetime value of the purchase as part the equation as well.
A car may devalue quickly, but it does make it possible to get around more easily, and that could open up new opportunities for you.