- The 2025 Chubb Australia Wealth Report has revealed how the countryโs high-net-worth individuals are spending their disposable income.
- With a sample size of 200 who own investible assets between $5 million and $50+ million, itโs no longer about accruing for the sake of accruing.
- โThis report looks at the connection between asset and identityโฆ wealth is no longer just owned, itโs lived,โ explains Head of Personal Lines ANZ Angela Capponi.
Wealth has never been expressed in square footage and share portfolios alone.
For instance, if you were to survey Australiaโs most affluent โ precisely in the manner Chubb recently has โ youโd learn itโs also about expressing oneโs passions through what you can touch, see, wear, and most crucially, hand down.
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According to the global insurance leaderโs latest Australia Wealth Report, 79% of the countryโs high-net-worth (HNW) families and individuals now own a personal collection โ priced in the millions โ spanning jewellery, art, watches, and designer accessories. Though youโd be mistaken in assuming these were nothing more than indulgences and novelty-based alternative investments.
The rise of collectible wealth tells a story about the shifting psychology behind affluence itself.
Once upon a time, the Australian dream was almost entirely anchored in property and superannuation. But as markets fluctuate (and diversification becomes the name of the game), tangible assets with both aesthetic and emotional value have found a new place in the hierarchy.
In the past year alone, 46% of surveyed HNW Australians planned to expand their collections in the following categories:
- 70% โ Jewellery
- 49% โ Fine art
- 44% โ Watches/timepieces
- 43% โ Designer accessories
- 38% โ Rare coins
- 27% โ Fine wine
- 16% โ Stamps
- 11% โ Sports
- 10% โ Collector cars
Among those questioned, a third already held investible assets between $10 million and $25 million, another third had between $25 million and $50 million, while approximately 20% boasted more than $50 million.
This isnโt about hoarding baubles in private vaults, either.
The report reveals a deeper motivation: collections as identity, purpose, and permanence. A Patek Philippe isnโt just a timepiece โ itโs proof of discernment. A Rothko hanging in a climate-controlled room might signify cultural fluency more than mere net worth. These possessions narrate who their owners are and, perhaps more importantly, who they hope to be remembered as.
Of course, sentiment doesnโt make assets invincible. As the Chubb report notes, the wealthy are facing a โlegacy gapโ: 68% of those retaining assets between $5 and $10 million admit they donโt know who will inherit their collections. In other words, these symbols of permanence risk becoming orphans of fortune.
Conveniently concluded, given the company thatโs published these finds, the emotional currency of a painting or heirloom ring is often far greater than its appraised value, yet many apparently fail to protect or plan for that reality.
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Angela Capponi, Head of Personal Lines at Chubb Australia and New Zealand, frames it succinctly: โProtecting a collection means more than replacement value. It is about preserving stories, significance, and future value through expert advice and proactive protection.โ
What we are witnessing is not a retreat into materialism, but a new form of meaning-making. Whether itโs diamond bracelets, vintage Ferraris, or mid-century sculptures โ essentially stories told in precious gems, limited edition engines, and stone โ the wealthy are collecting with intent not just to diversify holdings, but to ensure their very memory. In other words, you canโt take it with you, but you might be able to leave a little bit of yourself behind with it.
At least thatโs what Chubb believes.
