Simple status calculation. The more expensive something is the higher Real Men Love Chis Shirt you are projecting. The smaller and less noticeable an object is. The more frivolous it is perceived. And finally the higher the frivolity a costly item is the more status each dollar gernerats. So to blow 100,000 on a car (item thst can trasport you long distances, is large and noticeable), good status projection. Probably upper middle class. 100,000 on a watch however (only tells time, small profile, is often covered by a sleeve) very high satus projection. Probably on thw lower to middle end of upper class.
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Art and jewelries are excellent value-Real Men Love Chis Shirt . They have established, international markets, and are incredibly dense, value-wise. Think of how much weight and volume 1 million dollars in cash take, and compare that to a painting or a watch on your wrist. If you’re a billionaire, investing a few million in these assets means that if, for example, something happens in your country and you need to leave ASAP, you have assets that are easily transportable, highly valuable, and reasonably liquid. And that’s not even taking into account asset appreciation.