Fine Wine Prices Decline Amid Tariffs and Market Challenges
Fine wine investors are experiencing their third consecutive year of declining returns, reflecting broader challenges in the luxury asset market.
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Luxury Assets
All articles tagged with #luxury assets
Ultra-Rich Shift Away from Luxury Assets
The article discusses how the ultra-rich are increasingly abandoning traditional luxury assets like fine wines, vintage cars, and mansions, despite their rising values from 2015 to 2023, indicating a shift in investment preferences among the wealthy.
Global Crackdown on Russian Oligarchs' Sanctions Evasion Schemes
Western countries have frozen or seized at least $9 billion worth of luxury real estate, superyachts, and private jets belonging to Russian billionaires since Russia's invasion of Ukraine. As of April 2023, Forbes estimates that Western countries have frozen or seized at least 15 billionaire-owned yachts, 11 jets and helicopters, and 124 homes worth a total of $9 billion. Despite these efforts, Russian oligarchs are still extremely wealthy, with 46 sanctioned billionaires losing only an estimated $48 billion since February 23, 2022.