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Reviewed by William Cooper
Unlike cooking, gardening and reading, some hobbies are extraordinarily expensive to pursue – which makes them the strict purview of the ultra wealthy. So, what are they? And what makes them so expensive? In this blog, we’ll take you on a tour of some of the world’s priciest hobbies. Some of them might surprise you.
Key takeaways
- Some hobbies involve such high costs that participation is limited by the level of investment required
- High-end leisure activities often require substantial ongoing expenses – from maintenance and staffing to travel and storage
- Popular luxury hobbies include yachting, luxury travel, car collecting, art and wine collecting, motorsports, golf, and high-end photography
- The appeal of these hobbies often lies in exclusivity, bespoke experiences, and access to rare or limited-edition items
The price of passion: hobbies at the luxury end
When it comes to how people like to spend their free time, there’s a whole world you might not know about. Hobbies come in many forms, from the familiar to the highly specialised. Some leisure pursuits, however, carry price tags that place them firmly at the more exclusive end of the spectrum.
Free time looks different for everyone, and that includes the ultra-wealthy. While some thrive on constant work – billionaire Elon Musk claims he works most weekends, including previous stints working 120 hours a week – others might use their downtime to travel, learn new skills, collect rare items or enjoy high-end experiences.
Not everyone with the means enjoys expensive hobbies, of course, but having additional resources does open the door to a whole new world of pursuits.
Luxury and lifestyle hobbies
Yachting
Yachting carries a reputation for luxury. That said, for many yachting enthusiasts, it’s more than a pastime, but a lifestyle based around travel and spending time on the water.
But what makes yachting itself expensive? If you’re thinking it’s pricey because it’s a form of sailing, think again. Yachting can be more accurately described as floating luxury mansions that need constant upkeep.
Yachts can range massively in price, but can cost up to tens of millions of pounds. Spanish tennis player Rafael Nadal owns a nearly £5 million 80-foot catamaran replete with a bar, BBQ and four private cabins. Harry Potter author J.K. Rowling’s superyacht rivals the size of most on-land mansions; featuring a cinema, pool, jacuzzis and beach club, the Samsara cost over £130 million.
Yet the initial cost of the yacht is just one expenditure. You then have maintenance cost – docking, cleaning, etc – which cost up to 5-10% of the vessel annually, or even 10-20% for docking and crew.
Luxury travel
For some, travel is more than an occasional break. Flexible schedules and larger budgets make highly tailored experiences possible, while second residences and holiday homes often form part of a broader approach to time spent abroad.
Luxury travel might include custom itineraries, private guides and chefs, and tailored experiences shaped around personal passions (eg., sustainability, art, etc). It’s not uncommon for trips to be built around exclusive access: behind-the-scenes museum tours, meetings with local experts, chartered vessels, and more.
Collecting and enthusiast hobbies
Car collecting
Car collecting appeals to enthusiasts for different reasons. Some are drawn to rare or limited‑edition vehicles, while others build collections around a single make or brand.
Sultan Hassanal Bolkiah of Brunei is thought to have the most valuable car collection in the world, with a value of $5 billion. His collection is made up of around 7,000 cars, including 600 Rolls Royces.
Art and antique collecting
For many art collectors, individual pieces tell stories. Assembling a collection can be a way to express their identity, passions or interests.
Many art curators find the search challenging but rewarding, because there are lots of different factors that influence value – from rarity to condition and provenance – that need careful navigation. Whether someone is acquiring contemporary art from emerging creators or sourcing antiques, three things are essential: expert advice, careful storage, and thoughtful protection. Our specialised art insurance helps safeguard prized pieces through the years.
Wine collecting
Wine collecting is a hobby that demands patience, storage, and long‑term planning, with collections often built over many years.
Collections often start with a handful of bottles, but among those with larger homes (and larger budgets) there may be entire rooms turned into temperature-controlled storage. Curating a cellar can become a long-term project in itself.
In wine collecting especially, there’s a particular fascination with provenance, like limited vintages and private vineyard releases. And, since fine wine doesn’t take kindly to heat, light, or unexpected mishaps, many collectors take out wine insurance for assets that are fragile and sometimes even irreplaceable.
Active hobbies
Motorsport
Getting involved in motorsport can be expensive, especially for those opting for race‑ready vehicles and specialist safety gear. Maintenance, upgrades, and professional support can quickly increase costs over time.
Golf
Millions enjoy golf casually, but it takes on a different shape at the top end. Think private courses, historic clubs, and exclusive memberships. Golf equipment – already pricey – might be personalised while lessons may be taken with well-known coaches.
Photography
There’s photography, and then there’s high-end photography. Think of setups that wouldn’t look out of place in a production house: multiple camera bodies, rare or specialist lenses, lighting rigs, drones and editing spaces. With access to professional‑level equipment and dedicated workspaces, high‑end photography allows for a greater degree of creative control. This can include managing lighting conditions, colour balance, and image detail to deliver a consistent visual outcome
Protect your passions
The most expensive hobbies in the world often begin from a place of curiosity rather than extravagance. Over time, greater investment often leads to increased scale, more specialised equipment, and environments designed to offer greater control or functionality.
With that comes a degree of risk; delicate items, rare pieces and high-value equipment are all vulnerable in different ways.
Whether the passion lies in collecting, travelling or creating, protecting what’s valuable becomes part of the process. Stanhope’s collections insurance offers an added layer of reassurance for people whose hobbies involve items that are anything but ordinary.
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I would definitely recommend Stanhope Insurance for any specialized collections you wish to insure. They were very pro-active, pleasant and approachable to deal with. Premium was reasonable to. Easy forms to fill in not too complicated. I dealt with Emily Phillips who could not have been more helpful nothing was too much trouble. Thank you
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Written by Matthew Ashton
I started working in the insurance industry in 2004. Four years later, I left to focus on theological studies, working as a youth worker and then as a ministry director in Seattle, USA. When returning to the UK, I had an opportunity to work for the late Andrew Marchington. I joined his firm as a sales advisor when it had around ten staff members. Within three years, I was Head of Ops with a staff team of over 30 people. After a chance encounter in 2019 with Rachel Living and Will Cooper, I co-started Stanhope to build a high-value home, luxury watch, and jewellery broker synonymous with trust. I love being with Donna, my wife, and four kids when not working, cramming in the odd row, or run when I can. I am fortunate to love what I do and consider it a blessing to grow the Stanhope brand.