Top 5 Most Expensive Hobbies of Rich People

Hobbies! Hobbies are great, aren’t they? Something fun you enjoy doing when you have some spare time... pick up a book, do a sport, or watch some television.

At least, that’s what you and I, with our limited monetary resources, amuse ourselves with. What could you be doing if you suddenly found yourself to be a millionaire or billionaire?


Here are the top 5 most expensive hobbies rich people enjoy, starting from the least expensive to the most expensive:

1. Ballroom Dancing

Someone wanting to be the next Dancing with the Stars champion would need to be ready to spend a few thousand dollars. Add in the costs of travelling and participating in competitions, and it can come to a total of $10,000 a year:

  • Each dress or tux: $1,000
  • One private dance lesson: $70
  • The shoes: $150

2. Diving

Scuba diving requires lessons, equipment, and probably travelling. Skydiving costs about as much as actually staying on the plane.

Scuba diving

Hobbyists who happen to live near the best diving sites can take up scuba diving for just $800 dollars; $500 for equipment and $300 for certification. If they need to travel, it can go up to $3,000 per trip.

Skydiving

Those seeking the adrenaline rush of jumping out of an airplane need to be comfortable with the idea that they’re spending thousands of dollars for a three-minute experience.

A single tandem jump is around $250. This means with just two jumps a week it will be $2,000 a month, or $24,000 a year. Costs can be cut by getting certified ($1,500), but even at $20 a jump, one jump a day is $7,300 a year.

3. Flying

Do you fantasize about taking to the skies in your own luxury jet, so the nightmare of being cramped on a small commercial plane will be just a distant memory? That dream could become a reality with just $105,000 - and that’s not a one-off payment. To break it down:

  • Getting a licence: $5,000
  • Buying and maintaining a (luxury) plane: $100,000

 

 

4. Collector

You may enjoy collecting stamps, or books, or bottle tops... but if you want to take it to the next level with art or cars, then it’s going to cost you.

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Art

Everyone has a different opinion of what is regarded as beautiful, but all agree which are the best artists. If you were a millionaire or billionaire you wouldn’t want to - or have to - settle for less than Picasso or another well-known artist.

How much does that cost? The three most expensive purchases on record are a Paul Cezanne piece for $250 million, a Picasso piece for $179.4 million and a Francis Bacon piece for $142 million. This is without including the salary of the personal art advisers assisting those purchases or the transportation costs to get to the auctions.

Cars

Vintage cars: fun to look at, expensive to buy. And still, you will only be looking at it as they usually either can’t be driven or you’re not going to risk damaging a million dollar purchase. Whether you like muscle cars, vintage cars or sports cars - and obviously, the rarer the better - you’re looking at millions. That’s even before you even think about where you’re going to safely put them and who’s going to look after them for you.

  • A 1937 Bugati Type 57S: $4.4 million
  • A 1961 Ferrari California: $10.8 million
  • A 1954 Mercedes Formula 1 race car: $29.6 million

 

5. Sailing

Owning a yacht that you take out on the weekends is something a lot of us associate with being rich. How rich do you actually need to be?

  • To buy a yacht: from $2 million up to $800 million
  • To rent a yacht: $5000 a day
  • The maintenance: $100,000 a month

See Also: Three Odd Tips to Make Yourself a Millionaire

Are you jealous that you don’t get to do these hobbies? Do you think you would spend your money differently? Let us know in the comments section below.

SOURCES
Investopedia
The Richest