3 ms·

I'd be curious to see a list of them!

AWildC182 7y ago
To add at least some substance, a big one is how you go about buying extreme luxury goods. If you want a private jet, million dollar car, yacht, down to bespoke ultra high end watches, suits, etc. you schedule an appointment and get vetted before you even walk in the door. It's not a showroom affair where you just walk in and buy something.
- trillic 7y ago
  I'm young and don't make a huge amount of money but I'm a racing crew for a few yachts competitively so I'm exposed to and worked directly with some people with net worth's anywhere from a few million to a few hundred million. The reality is that happens with dollar amounts even less than what you'd think. If you want to go buy a used $100,000 fishing boat. Nothing crazy, definitely not a yacht, the salesperson is likely going to run a background and credit check on you before scheduling a test drive or tour. It saves everybody time and prevents those who are unable to even afford the fuel on the thing from wasting the salesperson's time or clogging up a showroom. Even the realtor I used to find my $1XXX/month apartment had me consent to run a soft credit check before she would schedule tours with any of the higher-end buildings within my price range.
opportune 7y ago
I know some people who worked on building bespoke software/automation systems for the homes of the ultra rich. There are of course family office wealth management firms, know a few people there too. Basically if you have >$10bb (min threshold might be less, but their clients are in this range) you might just make your own wealth management firm where everyone is 100% focused on your stuff only. A lot of the services only for the ultra rich are kind of boring though, boiling down to running large personnel teams for specialized tasks. Like chefs/catering, cleaning and groundskeeping, transportation.
pjc50 7y ago
FT "How to spend it" magazine. The economist has something similar.

To add at least some substance, a big one is how you go about buying extreme luxury goods. If you want a private jet, million dollar car, yacht, down to bespoke ultra high end watches, suits, etc. you schedule an appointment and get vetted before you even walk in the door. It's not a showroom affair where you just walk in and buy something.

trillic 7y ago
I'm young and don't make a huge amount of money but I'm a racing crew for a few yachts competitively so I'm exposed to and worked directly with some people with net worth's anywhere from a few million to a few hundred million. The reality is that happens with dollar amounts even less than what you'd think. If you want to go buy a used $100,000 fishing boat. Nothing crazy, definitely not a yacht, the salesperson is likely going to run a background and credit check on you before scheduling a test drive or tour. It saves everybody time and prevents those who are unable to even afford the fuel on the thing from wasting the salesperson's time or clogging up a showroom. Even the realtor I used to find my $1XXX/month apartment had me consent to run a soft credit check before she would schedule tours with any of the higher-end buildings within my price range.

opportune 7y ago

I know some people who worked on building bespoke software/automation systems for the homes of the ultra rich. There are of course family office wealth management firms, know a few people there too. Basically if you have >$10bb (min threshold might be less, but their clients are in this range) you might just make your own wealth management firm where everyone is 100% focused on your stuff only. A lot of the services only for the ultra rich are kind of boring though, boiling down to running large personnel teams for specialized tasks. Like chefs/catering, cleaning and groundskeeping, transportation.

pjc50 7y ago

FT "How to spend it" magazine. The economist has something similar.