By Mark Van Mourick
As reported on CNBC.com, September 10, 2015:
You’ve worked hard and have been very patient, and now you have made money—lots of it.
Like many folks who have experienced a large liquidity event, you’re ready for some immediate gratification. So you are looking to splurge. Perhaps you want to buy a high-end car, a boat or a private jet. You may even look at purchasing a luxury watch. Whatever form of indulgence it takes, it’s a shiny trophy and it’s going to be yours.
Unfortunately, many luxury consumers fail to consider the extent to which their purchase will hold its value over the years. In many cases, buyers eventually decide to resell a luxury item, only to find themselves losing a big chunk of the purchase price to depreciation.