Young high earners build luxury collections as long-term investments, leave them exposed

Affluent investors in their 20s to mid-40s are treating luxury collections of watches, art, wine and sports memorabilia less like hobbies and more like long-term investment holdings, with the majority citing an item's future value as one of the top factors behind a purchase.

That is according to a new report based on a survey of 1,000 self-identified HENRY collectors conducted by Chubb. The term HENRY, short for "High Earner, Not Rich Yet," describes young professionals with strong incomes but comparatively little accumulated wealth.

Nearly nine in ten respondents reported annual income between $300,000 and $750,000, and more than a third earn upwards of $500,000 a year. Their collections span watches and jewelry (64%), art and antiques (51%), wine (38%) and sports memorabilia (21%), with 43% holding collections worth between $10,000 and $50,000 and roughly one in five holding collections worth $50,000 or more.

Majorities across every category, ranging from 47% of wine collectors to 59% of art and antiques collectors, have been collecting for five years or longer, and meaningful shares began as children.

Coverage gap

Despite the investment mindset, insurance uptake trails well behind, leaving high-value items at risk.  

Only 47% of surveyed collectors have purchased coverage for the items in their collections, while 43% have not and 10% remain unsure. Among those who skipped coverage, the leading reason, cited by 46%, was a mistaken belief that a homeowners or renters policy already protects their collection.

Other reasons included simply not getting around to it (38%) and not believing the items were at risk of loss or damage (34%). Cost was a comparatively minor factor, cited by just 14%.

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Typical homeowners and renters policies generally cap payouts for valuables with low sublimits and impose deductibles, leaving significant gaps for high-value items. Theft ranked as the top worry among collectors overall, cited by 45% among their top three concerns, followed by accidental damage or loss at 42%.

"For today's collectors, owning luxury items is both a way to express themselves and a smart financial move," said Amy McNeece, Head of Digital Consumer, Personal Risk Services at Chubb, which commissioned the research. "They buy with an eye on future value, but our research shows many still overlook the insurance protection needed to safeguard these investments."

"These young luxury buyers are redefining what it means to be a collector," said Laura Doyle, Chubb's Valuables Collections Product Leader. "They aren't simply buying things they love, they're building portfolios with the same discipline and long-term thinking you would expect from experienced investors."

Watch and jewelry buyers were the most frequent purchasers, with 21% acquiring new items quarterly and 13% buying monthly.

Digital habits, offline instincts

Collecting behavior reflects a generation raised online with sizeable shares of respondents using Instagram (85%), TikTok (80%), Twitter/X (70%) and Facebook (61%) at least six times a week, and 71% saying they would rather complete a purchase digitally than in person.

Verification tasks such as checking an item's condition or provenance (70%) and authentication and grading (61%) were also largely preferred online.

Sourcing new items, however, remains a physical exercise for most: 70% of collectors said they prefer to shop or hunt for pieces in person, suggesting the discovery process still carries a tactile, offline appeal even as the surrounding transaction moves online.