21 Things Rich People Never Buy New (That Middle Class Wastes Money On)

Chuvic - June 17, 2025
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The wealthy aren’t always defined by flashy spending. In fact, savvy millionaires are often experts at avoiding unnecessary costs. Instead of paying top dollar for brand-new items that lose value the moment they’re purchased, they focus on value retention and long-term financial gain. Depreciation is a silent wealth killer—something the middle class often overlooks. By strategically purchasing high-quality items secondhand, rich people stretch their money further, invest more, and avoid the pitfalls of instant gratification. Their secret? Knowing that smart shopping beats impulse buying every time.

1. Luxury Cars

red and black lamborghini aventador
Source: Photo by Adrian Newell on Unsplash

Rich individuals rarely buy luxury cars brand new. The moment a Mercedes-Benz or BMW leaves the dealership, it can lose up to 20% of its value instantly. Instead, the wealthy often purchase vehicles that are just a couple of years old—still under warranty, but at a significant discount. This strategy lets them enjoy premium features and status, without shouldering the burden of initial depreciation. For current values and more insight, check Kelley Blue Book to see just how rapidly new cars lose value.

2. Designer Clothes

2. Designer Clothes
A curated rack of designer clothing lines the walls of a chic consignment store specializing in fashion resale treasures. | Photo by Iva The Photographer on Pexels

When it comes to fashion, the rich know that style doesn’t have to mean brand-new. Instead of splurging on fresh-off-the-runway pieces, they often shop at high-end consignment stores and online luxury resale sites. Platforms like The RealReal offer authentic, gently used designer apparel—think Gucci, Chanel, or Prada—at a fraction of retail prices. This smart approach allows them to rotate wardrobes, access exclusive brands, and still spend less, all while maintaining a polished, high-end look.

3. Jewelry

3. Jewelry
A stunning vintage diamond ring sparkles among a collection of heirloom jewelry at an elegant estate sale display. | Photo by Deepak Khirodwala on Pexels

Wealthy individuals understand that fine jewelry purchased new often comes with steep retail markups that disappear the moment you leave the store. Instead, they search for vintage or pre-owned pieces, which can offer better value and even potential for appreciation over time. These treasures often have unique craftsmanship and history, making them more desirable and collectible. As Forbes points out, buying vintage jewelry is a smart financial move that combines aesthetic beauty with investment potential.

4. Watches

silver-colored Rolex analog watch reading at 1:55
Source: Photo by John Torcasio on Unsplash

For affluent collectors, the allure of a luxury watch isn’t diminished by it being pre-owned. Brands like Rolex and Omega are renowned for quality and can actually hold or increase in value over time—unlike most brand-new models, which depreciate quickly after purchase.
Many savvy buyers turn to trusted sources such as Hodinkee for authenticated, gently used timepieces.
This smart approach allows them to enjoy iconic craftsmanship and prestige without suffering the early financial hit of retail pricing.

5. High-End Furniture

a living room filled with furniture and a wooden floor
Source: Photo by Albero Furniture Bratislava on Unsplash

Wealthy individuals know that designer furniture holds up over time and often looks even better with a bit of history. Rather than paying inflated showroom prices, they frequent estate sales and upscale resale shops, where iconic pieces from brands like Herman Miller or Knoll can be found at substantial discounts.
As Architectural Digest notes, vintage designer furniture not only offers superior craftsmanship but can also appreciate in value, turning each purchase into a smart investment for both home and wallet.

6. Art

assorted picture frames on wall
Source: Photo by Andrew Neel on Unsplash

When it comes to art collecting, the wealthy rarely buy directly from galleries at full retail price.
Instead, they often purchase established works at auctions or from private collections, where the true market value is clearer and opportunities for appreciation are greater. This approach allows them to acquire pieces with proven provenance and history, often at more competitive prices. For examples of high-value art sold on the secondary market, explore Sotheby’s, a trusted auction house for discerning collectors worldwide.

7. Boats

white and black speedboat on sea
Source: Photo by Jai Bakshi on Unsplash

The moment a new boat leaves the marina, its value can drop dramatically—sometimes by 20-30% in the first year alone. Savvy wealthy buyers avoid this steep loss by seeking out high-quality used yachts or sailboats, often finding well-maintained vessels at a fraction of their original price. According to Boat International, the pre-owned boat market offers exceptional opportunities for savings without compromising luxury or performance. For those who love the water, buying used simply makes the most financial sense.

8. Kids’ Toys

8. Kids’ Toys
Colorful shelves brim with gently-loved children’s toys, creating a treasure trove of secondhand delights in the toy store. | Photo by Tatiana Syrikova on Pexels

Even when it comes to their children, affluent families often avoid the trap of buying pricey toys brand new. Many seek out gently used toys or invest in heirloom-quality pieces that can be passed down or resold later. This thoughtful approach not only saves money but also reduces waste—a win for both the wallet and the planet. According to Parents Magazine, buying secondhand toys is growing in popularity due to its financial and environmental benefits.

9. Exercise Equipment

black and grey treadmill and stationary bikes
Source: Photo by CHUTTERSNAP on Unsplash

The wealthy know that exercise equipment is one of the easiest items to buy gently used, often in like-new condition. Many treadmills, ellipticals, and weight sets end up barely used, allowing smart shoppers to save thousands over retail prices. This approach is not only practical but lets them equip a home gym for a fraction of the cost. As highlighted by Men’s Health, the secondary market for fitness gear is robust and full of quality bargains.

10. Musical Instruments

a grand piano sitting in a living room next to a window
Source: Photo by Luke Schlanderer on Unsplash

When it comes to musical instruments, the affluent often seek out pre-owned options, especially for pianos and guitars. High-quality used instruments retain their value remarkably well and often showcase time-tested craftsmanship that rivals or surpasses new models. There’s also less financial risk, as depreciation is minimal after the initial purchase.
According to Yamaha Music, many musicians and collectors prefer used instruments for both their sound quality and investment potential.

11. Baby Gear

seven assorted-colored strollers near building
Source: Photo by Phil Hearing on Unsplash

Affluent parents know that baby gear—like strollers, cribs, and bassinets—is quickly outgrown, making brand-new purchases less practical. Many opt for gently used, high-quality items that are just as safe and functional but come at a fraction of the original price. This strategy frees up resources for more meaningful investments and reduces unnecessary waste.
Consumer Reports notes that buying secondhand baby gear is a growing trend among smart, eco-conscious families.

12. Books

12. Books
Rows of well-loved old books line wooden shelves in a cozy used bookstore, inviting quiet exploration and discovery. | Photo by Suzy Hazelwood on Pexels

Building an impressive personal library isn’t about buying every title new.
Wealthy book lovers often hunt for rare, vintage, or first-edition books, valuing the character and history they bring. These used treasures can appreciate over time and create a more distinctive collection.
As The Guardian notes, collecting pre-owned books is both a smart investment and a way to cultivate a unique intellectual legacy.

13. Electronics

13. Electronics
A neatly arranged refurbished laptop and a used smartphone sit side by side on a clean, modern workspace. | Photo by Alesia Gritsuk on Pexels

Many wealthy individuals opt for refurbished or lightly used electronics instead of the latest models straight from the store. Phones, laptops, and tablets often come with warranties and work just as well as new, but at a fraction of the price. This approach minimizes unnecessary tech spending while still enjoying top performance. For tips and reputable sources, see CNET’s guide on refurbished tech, a trusted resource for smart electronics shopping.

14. Outdoor Gear

woman and a dog inside outdoor tent near body of water
Source: Photo by Patrick Hendry on Unsplash

For lovers of the outdoors, high-quality camping and adventure gear doesn’t have to be brand new. Wealthy adventurers often buy secondhand tents, backpacks, and technical clothing, finding exceptional value and reducing environmental impact. This practice supports sustainability and makes it possible to upgrade equipment more frequently. Platforms like REI Used Gear offer thoroughly inspected, gently used items, proving that top performance and substantial savings can go hand in hand.

15. Bicycles

15. Bicycles
A sleek used road bike rests against a brick wall, ready for its next cycling adventure on city streets. | Photo by Hilmi Banna on Pexels

In cycling circles, it’s common to find affluent riders opting for high-end used bikes instead of buying the latest models new. Quality bikes from top brands retain their performance and durability for years, but can be purchased secondhand for a much lower price. This smart approach means more value and room for upgrades without overspending. As Bicycling Magazine highlights, the used bike market is a goldmine for those who know what to look for.

16. Classic Cars

16. Classic Cars
A gleaming vintage auto with polished chrome details stands proudly on display at a lively classic car show. | Photo by Marjorie Matias on Pexels

Unlike buying new cars, investing in classic cars is a favored strategy among the affluent.
Vintage automobiles are often seen as appreciating assets, with models from brands like Porsche or Jaguar sometimes gaining significant value over time. Collectors are drawn to unique history, craftsmanship, and the thrill of ownership. As noted by Hagerty, classic cars combine the joys of driving with the potential for strong financial returns, making them a smart indulgence.

17. Fine China & Silverware

white and blue floral ceramic plate on red table
Source: Photo by akshay bajaj on Unsplash

For those with a taste for elegance, fine china and silverware are best sourced from estate sales and auctions. These pre-owned pieces not only offer exceptional craftsmanship at a fraction of retail cost but often carry historical and sentimental value. Collecting vintage tableware allows affluent buyers to own unique sets that tell a story. Martha Stewart highlights how such treasures are both beautiful for entertaining and savvy long-term investments.

18. Appliances

18. Appliances
A collection of gently used kitchen appliances, including a stainless steel refrigerator, neatly arranged on tiled flooring. | Photo by Max Vakhtbovycn on Pexels

Savvy buyers recognize that top-tier appliances can often be found gently used, especially during moves or home remodels. Premium brands—think Sub-Zero or Miele—are built to last, and purchasing them secondhand can mean massive savings without sacrificing performance.
This approach allows for luxury kitchens and laundry rooms at a fraction of the retail cost.
For tips on buying reliable, pre-owned appliances, check Consumer Reports for expert advice and recommendations.

19. Sports Equipment

19. Sports Equipment
Rows of gleaming golf clubs and colorful ski gear line the shelves of a bustling sports store, ready for adventure. | Photo by Kindel Media on Pexels

Even when it comes to premium sports equipment—whether it’s golf clubs, skis, or tennis rackets—the wealthy often buy secondhand.
High-quality gear maintains performance for years, and the used market delivers substantial savings over buying new. This practical approach enables enthusiasts to upgrade or try new sports without overspending. As Golf Digest points out, the resale market for top-tier sports equipment is booming, offering impressive deals for savvy athletes.

20. Power Tools

20. Power Tools
A well-organized garage workshop showcases an array of power tools neatly arranged on sturdy wooden shelves and workbenches. | Photo by cottonbro studio on Pexels

In well-equipped workshops, quality power tools are prized for their durability, not their showroom shine.
The wealthy often purchase top brands secondhand, knowing a well-maintained drill or saw can outlast many new, cheaper alternatives. This strategy saves money while ensuring access to professional-grade equipment. According to Popular Mechanics, buying used power tools is a smart move for anyone who values reliability and performance over novelty.

21. Rugs & Carpets

21. Rugs & Carpets
A beautifully patterned antique rug adds timeless charm to a cozy living space with vintage-inspired decor elements. | Photo by Zülfü Demir📸 on Pexels

When furnishing their homes, the wealthy often seek out antique or vintage rugs instead of buying new.
These pieces not only bring unique character and timeless beauty to a space, but many also appreciate in value over time. Handwoven Persian or Oriental rugs, for example, are highly sought after in the resale market. As Elle Decor notes, investing in vintage rugs is both a style statement and a smart financial move.

22. Cameras & Photography Gear

22. Cameras & Photography Gear
A collection of well-loved cameras and photography gear neatly arranged on a table, showcasing quality used equipment. | Photo by Luis Quintero on Pexels

Both seasoned and aspiring photographers know that high-end cameras and lenses maintain their value and performance for years. Wealthy buyers frequently opt for gently used equipment, benefiting from advanced technology at a reduced cost. This approach allows for frequent upgrades and experimentation without breaking the bank.
According to DPReview, the used camera market is thriving, offering top-tier gear that’s every bit as capable as new—just much smarter on the wallet.

Conclusion: The Power of Buying Smart

Conclusion: The Power of Buying Smart
A confident shopper compares prices on her phone while selecting groceries, embodying smart shopping and savvy savings habits. | Photo by Photo By: Kaboompics.com on Pexels

The habits of the wealthy reveal a simple truth: buying secondhand is often the smartest choice for quality, value, and sustainability.
Strategic purchases of gently used items preserve wealth, reduce unnecessary waste, and reflect a disciplined approach to spending.
Whether it’s luxury cars or timeless art, the real secret isn’t in what you buy—but how you buy it.
Consider rethinking your own shopping habits to unlock savings, invest wisely, and build a lifestyle that truly lasts.

Disclaimer

Disclaimer
A blue info icon appears next to a disclaimer message, offering helpful advice and important details to readers. | Photo by Mike Bird on Pexels

This article is for informational purposes only and does not constitute financial advice.
Every individual’s situation is unique—always consult a qualified financial professional before making significant purchasing or investment decisions.
Shop smart, stay informed, and make choices that are right for you.

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