Welcome to Extreme Investor Network, where we provide you with the latest insights and trends in the world of high-net-worth investments. Today, we are diving into the rising trend of “quiet wealth” among the rich, who are opting for private purchases of luxury items to avoid unwanted attention.
According to experts in the field, wealthy buyers and sellers are increasingly turning to private sales and off-market listings for items such as mansions, art, and classic cars. This shift is driven by a desire for discretion in an age where social media and technology can expose every detail of a transaction.
In the art world, public auction sales are declining, while private sales are on the rise. Last year, private sales at auction houses like Sotheby’s and Christie’s increased, totaling $2.4 billion. High-profile buyers like hedge-fund billionaire Ken Griffin have been discreetly acquiring valuable pieces through private sales to maintain privacy.
Similarly, classic cars are also seeing a shift towards private sales, especially for rare and expensive models. RM Sotheby’s private sales division has experienced significant growth in recent years, with private sales accounting for nearly a third of revenue. Buyers are increasingly seeking to make transactions away from the public eye, allowing them to purchase coveted items without attracting unwanted attention.
In the real estate market, off-market sales are becoming increasingly common in luxury markets like Manhattan, Malibu, Aspen, the Hamptons, and Palm Beach. These “whisper” listings are not publicly advertised but are quietly circulated among a select group of brokers and buyers. For properties priced over $20 million, off-market agreements are becoming more appealing to sellers looking to maintain privacy and exclusivity.
Expert real estate agents emphasize the importance of broker relationships in facilitating off-market sales for high-end properties. While private transactions may limit the pool of potential buyers and potentially result in missing out on the highest price, sellers value the discretion and privacy that come with off-market deals.
At Extreme Investor Network, we keep you informed on the latest trends in wealth management and high-net-worth investments. For more exclusive insights and expert analysis, sign up for our newsletter to receive future editions straight to your inbox. Join us in exploring the world of extreme investing and maximizing your wealth potential.