BNY Wealth surveyed 290 family offices managing fortunes of at least $250 million, with nearly half overseeing more than $1 billion. Luxury assets are increasingly seen as inflation hedges, with Patek Philippe rising 12.1% and Rolex gaining 4.6% on the secondary market, while fine art sales climbed 11% in 2025, led by the $236.4 million sale of Gustav Klimt’s Bildnis Elisabeth Lederer at Sotheby’s. Sotheby’s reported record first-half sales of $4.4 billion in 2026, up 58% year-over-year. Research shows luxury assets perform unevenly during high inflation: art returned roughly 7% above inflation, while fine wines tended to suffer. Analysts note that the value of luxury assets depends as much on their ability to signal wealth as on financial returns, in an increasingly K-shaped economy.
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