Many HENRYs are avid collectors of luxury items such as watches and jewelry, wine, sports memorabilia, and art and antiques. While the HENRYs we heard from view collecting as a form of self-expression and a means of amassing social capital, their collecting activity also reflects a slow yet strategic and investment-minded approach to building wealth. This unique duality informs not only their purchasing behavior, we found, but their decisions regarding asset protection as well.
For “The New Era of Luxury Collecting & Investment,” Chubb surveyed 1,000 HENRYs ranging from their early 20s up to 45 years of age. Though relatively young, they are professionally accomplished. They are also economically ascendant — and their salaries reflect it.
Compared to older cohorts of high-earning individuals, HENRYs are less likely to own a home or to have children; many of them prefer the economic flexibility that comes with renting, just as they prefer the lifestyle flexibility that comes with waiting to start a family.
HENRYs enjoy getting out regularly and spending their discretionary income on experiences that they find personally enriching, including traveling (73%), attending cultural events (72%) and concerts (63%), and engaging in fine dining (61%).
For today's HENRYs, collecting is deeply personal and rooted in family history, aesthetic passion, and the thrill of the hunt. But it's also strategic. These are collectors who buy with an eye on future value, building wealth one acquisition at a time.
“I want to actively enjoy the items in my collections, whether it’s a rare bottle of wine or a beautiful vintage necklace. They’re part of my lifestyle.”
“For me, collecting isn’t just about the object: It’s about honoring where I came from while at the same time building a future for my own kids.”
“I buy what I love. Experiencing the ‘thrill of the hunt’ is my favorite weekend activity.”
The people that Chubb surveyed bring a genuine passion to collecting, an activity that for many of them is highly personal and rooted in family history, memory, and aesthetic appreciation.
While individual purchases may originate with a burst of passion, the collections themselves are better thought of as financial assets that will appreciate over time.
Our report identifies the favorite buying methods for different collector categories, revealing which point of purchase each category prefers:
Our HENRY survey respondents share their perceptions about insurance protection, including which factors make them more — or less — likely to purchase it for their collections.