Wealthy Millennials and Gen Z in the United States have more interest in collectibles like watches, wine, and cars than older generations.
can bring in the big bucks—and more than ever, it seems like that money is coming from younger and younger people.Bank of America’s 2024 Study of Wealthy Americans. Among that subset, a whopping 94 percent of respondents said they were into collecting items likeThis $64.
One place of particular interest is the collectibles market, which some may be using as a means of investment, although the Bank of America report doesn’t specify that as the reason. In several luxe categories, those under the age of 44 are at least twice as likely as their older peers to be collectors: That includesAcross all the collectibles mentioned in the report, that age group surpasses its elders in all but one: coins.
To arrive at these data, Bank of America surveyed more than 1,000 high-net-worth individuals throughout the U.S. All respondents were at least 21 years old and had at least $3 million in investable assets, not including their primary residence. Along with the collectibles information, the bank assessed investing trends, estate planning, views on philanthropy, and more.Tori Latham is a digital staff writer at Robb Report.
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