RAPAPORT... Jewelry proved to be the most popular customized luxury gift in a survey of the spending habits for wealthy consumers in the United States.
The 2007 Wealth Report, conducted by research company, the Luxury Institute, showed that 37 percent of wealthy consumers buy made-to-order jewelry as a gift, while 44 percent make similar purchases for their own personal use.
Combined, jewelry was the second most popular made-to-order category - 56 percent of wealthy consumers said they buy customized jewelry – behind home furnishings (57 percent.) Homes, men's dress shirts and suits completed the top five.
The survey, which was released July 15, 2007, questioned residents with household incomes of more than $150,000 about their spending habits on customized luxury goods in the categories of made-to-order, one-of-a-kind and made-to-measure.
It showed that twice as many women buy made-to-order jewelry for personal use, while men more frequently buy it as a gift rather than for their own use.
The Luxury Institute said the wealthy listed more than 100 brands of made-to-order products they buy, of which Tiffany & Co. was the most popular with 6 percent of the wealthy saying that they made a made-to-order purchase from the New York-based jeweler.
While automobiles were the most popular "one-of-a-kind" items, 26 percent said they have bought unique luxury items such as jewelry
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