10 luxury items you can buy with crypto

Did you know that High Net-Worth Individuals can now leverage their crypto and convert it into fiat to acquire different luxury items, from real estate to cars, fine art, rare watches, and much more? In this article, we will uncover the full scope of high-end goods that people can access with their current on-chain portfolio.

There are several reasons why companies and individuals choose to acquire crypto assets in the modern world. It can be related to treasury diversification, investment growth, inflation bypass, privacy and security concerns, transaction efficiency, lower fees, global accessibility, or even as a way to leverage future loans. This means that investors are no longer dependent on centralized banks and platforms, which tend to control their access and can now manage their transactions without restrictions, such as the hours of the day one could proceed to an operation within their own portfolio.

More and more people are turning to crypto solutions to ensure 24/7 access and full ownership of their tokens, as the fairly new non-custodial Web3 solutions allow them to move their assets as they wish, as many times as they want, whenever and wherever they may be.

In the midst of this massive movement towards a decentralized financial world, commonly known as Web3 banking, we are witnessing an emerging trend in the use of crypto: leveraging the existing on-chain portfolio to acquire luxury items. 

The rise of the luxury market

The number of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) has been steadily increasing, particularly in emerging markets like China, India, and the Middle East. As they grow wealthier, their interest in unique goods and services, such as exclusive experiences or designer items, becomes higher, and with the increase in disposable income, they can now indulge in purchasing luxury products.

According to Bain & Company, the global luxury goods market reached €1.4 trillion ($1.5 trillion) in 2023, and the market has been steadily growing at an annual rate of around 5-7%. Statista reports that this year's revenue in the sector amounts to US$473.90bn, and that the market is expected to grow at a compound annual growth rate (CAGR) of 4.04% between 2024 and 2029.

The global luxury market is often segmented into personal luxury goods, such as fashion, watches, jewelry, or cosmetics, and experiential luxury, with travel, fine dining, and exclusive experiences at the forefront. The personal luxury goods segment currently accounts for approximately 75-80% of the total market, while experiential luxury has been proliferating, especially since the COVID-19 pandemic.

The global market share of luxury items is another curious aspect of this particular segment. The Asia-Pacific region, particularly China, continues to be a dominant force in luxury consumption. According to McKinsey & Company, Chinese consumers accounted for over 30% of the global luxury market in 2023. Statista confirms this, by sharing an astonishing US$102bn spent in China in 2024. The country’s luxury spending has been growing at a double-digit rates annually, driven by younger consumers, rising affluence, and a greater appetite for international brands.

The Middle East, namely the UAE and Saudi Arabia, also remains a major player in the luxury market, with Dubai being one of the world’s top destinations for high-end shopping. According to Al Masah Capital, the UAE's luxury goods market was estimated to be worth $7.5 billion in 2022, and it is expected to continue growing as demand from both locals and international tourists remains strong. 

In Europe, countries such as Italy, France, and the UK remain the main luxury shopping hubs, with the European luxury market valued at around €100-110 billion in 2023, according to Statista.

What luxury items can you buy with crypto? 

There are many luxury items that can be acquired with your on-chain portfolio - virtually everything can be bought using crypto today, provided you choose the right transaction partner to conduct your payments.

Here are the top 10 categories we have found to be the most sought-after by high net-worth individuals and Web3 founders:

1. Real Estate

Investors all around the world choose real estate as a smart investment or a way to diversify their portfolio. From an oceanfront mansion to a penthouse in the heart of a big city, crypto holders have the opportunity to apply their assets to acquire tangible property.

There are several real estate agencies and brokers around the world, especially in crypto-friendly locations like Miami, Dubai, and parts of Europe, that now accept digital currencies or can help you with a large transaction from crypto to fiat. There is also the possibility of fractional ownership, with agencies such as RealT taking the lead in this new way of conducting property investment.

You can discover more details in our blog post “Investing in Real Estate: 10 reasons to use crypto to acquire a property”.

2. Super Cars

For car enthusiasts, acquiring unique cars has become a form of art, turning them into high-end collectors. However, crypto can now be used not only for exclusive and antique vehicles but also for new ones from powerful brands such as McLaren, Porsche, Rolls-Royce, Ferrari, or even Lamborghini.

According to Statista, in 2023, the global market for luxury cars was estimated to be at around 635 billion euros, with electric vehicles making an entrance in the luxury market as well, namely the battery-powered models offered by Tesla. The market is expected to grow by 12.2 percent year-on-year over the next few years.

3. Yachts

For people who love being surrounded by water and luxury, a yacht may be their dream purchase. There are now several yacht dealers that accept cryptocurrencies as a form of payment, such as Ocean Independence, a luxury yacht brokerage firm, or Denison Yachting, and other premium yacht sellers allow crypto payments for both purchases and rentals. 

Whether it’s a small motorboat or a lavish superyacht, cryptocurrency is gaining traction as a preferred payment option in the luxury marine world.

4. Rare Watches

Interestingly enough, the global watch market was one of the most highlighted in the luxury segment, valued at around €28 billion in 2023, with Swiss watches maintaining their dominance, accounting for over 50% of global luxury watch sales.

Crypto holders can now leverage their portfolio to gain access to high-end and rare, collectible watches. Iconic brands like Rolex or Patek Philippe are now more accessible to high net-worth individuals with on-chain assets.

5. High-end Jewelry

For centuries, jewelry has been a solid investment with added value. To this day, diamond pieces, such as necklaces, bracelets, and earrings, are increasingly valued. 

It is now easier to buy these timeless pieces using blockchain, granting safety, privacy, and even anonymity. Highly respected companies, such as Reeds Jewelers and Jewelers Mutual, now accept crypto as payment.

6. Designer Fashion

Boutiques and luxury stores alike are known for their attention to the customer. Access to designer fashion is now easier, with many luxury fashion houses beginning to accept crypto payments, such as Gucci, Balenciaga, and Prada, either in-store or through their online platforms.

The trend is growing, with platforms like Farfetch and Net-a-Porter enabling blockchain payments for high-end clothing, handbags, shoes, and accessories.

7. Fine Art

Collectors can now access a new realm of fine art and invest in timeless pieces by world-renowned artists. From renowned galleries to auction houses, such as Christie’s and Sotheby’s, many have already sold multi-million dollar art pieces for cryptocurrency. 

Additionally, as the market opens up to new art forms, as NFTs grow globally in a digital representation of art pieces, marketplaces like OpenSea and Rarible allow users to buy and sell digital art and collectibles using crypto, combining luxury with digital innovation.

8. Exclusive Collectibles

From vintage wines to sports memorabilia, there is a place for all types of collectibles, and crypto is opening the doors for many more people to participate in this luxury market. High-end marketplaces and auction houses can provide access to unique items while buyers can now use on-chain coins as leverage or payment method to acquire their desired physical pieces.

Similarly, NFTs are also becoming a form of collectibles, adding a digital component to real-world assets, while valuing the access via blockchain transactions.  

9. Furniture

With the growing interest in personalized and sustainable products, there has been an increase in the acquisition of hand-made, unique, and exquisite furniture, considered to be a form of art and craftsmanship by interior design enthusiasts.

Grand View Research has reported that the global luxury furniture market was valued at $28-30 billion in 2023, with a growth rate of approximately 5-7% CAGR expected over the next five years, illustrating this predicted growth.

10. Unique Experiences

People can now grant access to once-in-a-lifetime experiences, like private concerts or jet-set vacations, with private jets and exclusive islands. For instance, booking a week in the Maldives, a tour of the French Riviera, or a private safari in Africa is now possible by using cryptocurrency to unlock these exclusive travel experiences. 

Travala is a leading travel agency that accepts on-chain payments to book hotels, flights, and vacation packages at five-star resorts around the world. JetToken is another company that allows you to book a private jet with Bitcoin, and several other high-end aviation services are starting to follow this example.

How to acquire luxury items with crypto

Nowadays, there is more than one option to leverage a crypto portfolio, without applying your on-chain assets directly as a payment method.

Acquiring luxury items becomes easier with solutions like Skyline Digital, which offers three different ways to apply crypto to access authentic luxury items:

1. Choosing a vendor that accepts crypto payments

As mentioned above, there are several luxury goods merchants that accept crypto payments. Skyline Digital facilitates the transaction between your wallet and theirs, ensuring privacy, security, and transparency throughout the process, as well as efficiency and speed, with our crypto-to-crypto operations.

‍2. Converting your crypto to fiat payments

With Skyline Digital, you can choose any provider that accepts major fiat currencies, such as EUR, CHF, and GBP, to secure your payments. Our platform will secure the transaction directly from your preferred stablecoin, within your wallet, to their account.

‍3. Subscribing a DeFi Loan

Skyline Digital has recently launched a new way to leverage your crypto portfolio - ​​our new DeFi lending platform integrates with leading protocols such as AAVE and Spark to offer loans up to $10M backed by your crypto. With this option, you can keep your assets safe and use a fiat loan instead to acquire all your luxury items, granting liquidity while keeping your crypto investments locked up.

Unlocking a new world of luxury items with crypto

As previously mentioned, the world of luxury items is rapidly growing, and businesses and consumers alike must be ready to adapt. Crypto, as a new and increasingly popular payment method, is becoming more prevalent in this industry, with undeniable usage and acceptance across the globe. 

The ability to acquire a luxury item of your choice, be it real estate, a supercar, a rare watch, a piece of jewelry, a unique piece of art, and much more, is now at a distance of a few clicks - with partners like Skyline Digital making it easier to pursue payments and opting for crypto to crypto or crypto to fiat transactions.

The future has arrived for crypto holders to deploy their assets without the hassle of off-ramping every time they want to buy something of their preferred choice.

If you, too, want access to this world, join us today and open up the possibilities within your reach. Join us today here, or get in touch with us for any queries here.