In the old days, the super-wealthy were somewhat protected from consumer competition as it relates to exclusivity of products. Only a few could afford the very finest of the finest, rare things, and they were not over exposed the way all things are via social media these days.
Now as the world has the ability to 'emulate' a $10,000 chair for $500 rather well, and the volume of ultra wealthy people has grown enormously, those seeking real exclusivity are seeking out more options to great hyper-personalized products and experiences. Sameness is a bit of a curse when you are paying an extreme price.
What we buy in the luxury sphere these days is usually a splurge, and certainly most homes qualify. Comparatively, that $500,0000 home is probably an even bigger splurge to that buyer than the $20 million home buyer who is probably significantly wealthier. Now, both buyers are seeking something about what they buy that is unique, special, distinctive and personal, designed for their specific wants and needs. Authentic haute couture (the kind that requires multiple custom fittings in Paris, etc) has transitioned to the real estate world!
As a marketer of luxury property (all property is luxury in the eyes of a buyer, irrespective of the price point), I'm keenly aware of this desire of buyers and I always take into consideration the aspirational aspects of their purchase. This desire has placed new value on those with extraordinary design skills. What about the property, the staging, the details, etc, might stand out as unique and special? Who amongst my vast array of resources has the ability to install these aspects that might qualify? I know the best designers, architects, landscapers, etc.
This matters to many and is often a solid emotional connector. There is no doubt anymore that ultra-special sells for an ultra-premium but it can also be achieved on a much smaller budget. With the right team in place, buyers can make their space unique to them through the possessions they already own or accentuated with selective purchases (think light fixtures, paint colors, subtle use of wallpaper, framing of art, area rugs, furniture, accessories & mementos etc). In a world of sameness, distinctiveness stands out!
