What Does It Cost To Live Like The Richest People In The World?
Our basket of 40 luxury goods is up 2% since last year, nearly half a point above the increase from 2017.
Since we began tracking it in 1982, the Cost of Living Extremely Well Index (CLEWI) has outpaced inflation by an average 2.3%. This year’s increase, though, was more than half a point below that of the Consumer Price Index over the same period. Relatively speaking, then, these high-end items are still affordable. Which might make the 3% bump in the cost of one’s new helicopter a little easier to swallow.
ENTERTAINMENT AND TOYS +3.5%
Opera: Metropolitan Opera tickets for two, premium seats, for six Saturday-night shows (purchased in New York) $5,760 / 4.4%
Piano: Ebonized Model D concert-grand Steinway (New York) $171,100 / 4.3%
Motor Yacht: Viking Yacht 75 (New Jersey) $5.9 MIL / NA
Sailing Yacht: Oyster 595 (U.K.) $2.5 MIL / 8.7%
Sporting Shotguns: Pair of 12-gauge side-by-side from James Purdey & Sons (New Jersey) $318,353 / 3.6%
Thoroughbred: Average yearling, Keeneland September sale (Kentucky) $363,780 / N/A
Train set: Thomas & Friends Lionel Christmas set with Bluetooth (North Carolina) $200 / N/A
Cigars: 25 Davidoff Dominican Aniversario Double “R” (New York) $820 / 0%
Magazine: Forbes, one-year subscription (New York) $60 / 0%
FASHION +1%
Coat: Russian sable, Bloomingdale’s (New York) $225,000 / –15.1%
Black Jersey Dress: With web trim, Gucci (Italy) $1,900 / 11.8%
Loafers: Horsebit leather, Gucci (Italy) $690 / 3%
Shirts: 12 cotton bespoke, Turnbull & Asser (U.K.) $8,340 / 3%
Shoes: Men’s black-calf wingtips, custom-made, John Lobb (U.K.) $5,564 / 0.5%
Perfume: 1000 by Jean Patou, 0.5 oz. (France) $350 / 0%
Watch: Jules Audemars self-winding, 18-karat pink gold, alligator strap, Audemars Piguet (Switzerland) $22,700 / 0%
Handbag: Hermès Clemence Jypsière, bull-calf leather (France) $8,500 / 0%
FOOD AND DRINK +3.2%
Catered Dinner: 40-person meal from Ridgewells (Maryland) $7,907.04 / 0%
Caviar: Kilo of Petrossian Special Reserve Ossetra (California, New York) $12,500 / 0%
Champagne: Case of 750ml Dom Pérignon 2009 (New York) $2,039 / 6.3%
Chateaubriand: 7 pounds of tenderloin (New York) $580.86 / 3.7%
Dinner: La Tour d’Argent tasting menu, per person, excluding wine and tip (Paris) $440.80 / 5.8%
HOUSEHOLD +1.8%
Flowers in Season: Arrangements for six rooms per month, changed weekly (New York) $8,175 / 0%
Sheets: Queen-size cotton sateen Ultimate (Italy) $2,800 / NA
Sterling Silver Flatware: Five-piece dinner set for 12 (Massachusetts) $12,960 / 0%
Sauna: 8-by-10-by-7 feet in Nordic spruce (Minnesota) $18,336 / 0.3%
Swimming Pool: Olympic-size (California) $2 MIL / 8.8%
Tennis Court: Har-Tru crushed stone (Connecticut) $55,000 / 0%
SERVICES +0.7%
School: Year’s tuition, room and board at Groton (Massachusetts) $56,550 / 1.5%
University: Year’s tuition, room and board, plus insurance, at Harvard (Massachusetts) $70,944 / 3.2%
Face-lift: Experienced surgeon (New York) $18,500 / 0%
Concierge: One-year membership for personal service (New York) $25,000 / 0%
Psychiatrist: 45 minutes at Upper East Side shrink (New York) $400 / 0%
Lawyer: Hourly fee for estate planning, from a Schlesinger, Lazetera & Auchincloss partner (New York) $995 / 0%
Spa: Coed weekly rate, the Golden Door (California) $8,850 / 0%
TRAVEL +2.6%
Hotel: Four Seasons one-bedroom suite, off-peak (New York) $4,650 / 5.4%
Airplane: Learjet 70, Bombardier (Canada) $11.3 MIL / 0%
Helicopter: Deluxe Executive VIP Sikorsky S-76D (Connecticut) $17.2 MIL / 2.7%
Car: 2018 Rolls-Royce Phantom (New Jersey) $530,000 / 0%
Travel Bag: Louis Vuitton Keepall Bandoulière 55 (France) $1,845 / 4.8%