As times change, so do the ways in which wealthy individuals display their affluence. The symbols of luxury and status that were popular in the early 1900s have transformed significantly by 2024. This article explores some of the ways the rich showcased their wealth in the past, highlighting the evolution of status symbols over the years.
Expensive Jewelry
Jewelry made from precious metals and stones was once a wearable display of one’s wealth. These items often became family heirlooms, symbolizing the family’s wealth across generations. This included diamonds, emeralds, sapphires, and precious metals such as gold and platinum. However, people don’t really wear such fancy pieces anymore, and will keep things minimal, even if they’re rich.
Luxurious Carriages
Traveling in a luxurious carriage was the equivalent of today’s luxury car, signaling both wealth and taste. Wealthy individuals commissioned custom-built carriages as a showcase of their status. These carriages were made with expensive materials and intricate designs that the ordinary folk could not afford.
Wearing Wigs
Wigs were not just about fashion; they were a clear sign of wealth and a desire to stand out. Maintaining these wigs was costly, requiring the services of specialized wigmakers. Some rich people wore their wigs occasionally, and others chose to wear them every day to show how rich they were. These days, wigs are very affordable.
Hosting Lavish Parties
Hosting extravagant parties was a way to publicly display wealth and fake generosity. Invitations to these events were the envy of the town, as they were often exclusive to the social elite. The best parties featured gourmet food, fine wines, and live entertainment, all to show the host’s wealth.
Collecting Art
Access to rare and exclusive artwork has always been a sign of financial means and influence. Some wealthy people went as far as creating private galleries, highlighting their dedication to the arts and their wealth. It was a way to tie their names to movements that were shaping culture to buy favor from the general public.
Custom Tailoring
Custom tailoring allowed the wealthy to stay ahead of fashion trends, further setting them apart from the masses. It’s where the luxury brands we know today started to build their names. This remains true as a custom suit from Alan David, a tailoring business that has been around for about 100 years, costs almost £1,500.
Possessing a Coat of Arms
Having your own coat of arms was like showing off your family’s special badge. It was something you could only have if you were really rich or came from a family with a noble background. These special symbols told stories about your family’s heroic deeds and long history, making sure everyone knew about your impressive background.
Ownership of Multiple Properties
When someone owned not just one but many houses, it was a clear sign they had a lot of money. Some of these houses were just for holidays, showing they could enjoy the good life in different places. Besides just being nice places to stay, these houses could also make money for their owners, adding even more to their wealth.
Membership in Exclusive Clubs
Joining a club that not everyone could get into was a big deal. It meant you could hang out with other very rich or important people. These clubs asked for a lot of money just to join and keep being members, so they were known for being very exclusive.
Holding Patents
Owning patents was not just about innovation but also a clear indication of financial success and societal impact. This not only showed you were clever but could also make you a lot of money since only you could sell your invention.
Gourmet Food and Wine Collections
It wasn’t cheap to have a fancy collection of wines and special foods. It showed you had both the money and the interest in fine things. When you shared these with friends at special dinners, it was a way to show how generous and well-off you were, making your gatherings very special.
Traveling for Leisure
Once upon a time, only the wealthy could afford to travel for pleasure. Visiting exotic locations was a way to display one’s wealth, curiosity, and adventurous spirit. According to Travel + Leisure, travel has changed so much through the decades that almost anyone can hop on a plane today.
Education at Prestigious Institutions
Attending prestigious schools and universities was often reserved for the wealthy elite. These institutions provided not just education but also valuable social networks. People who attended these schools went on to do big things in politics, economics, and academia.
Gold and Silverware Collections
Owning a bunch of gold and silver items was like showing off a treasure chest. The shiny pieces weren’t just for decoration; they were a sign of how rich someone was. Often, these collections were handed down from parents to children, keeping the family’s riches alive through generations. However, nowadays, young people couldn’t care less about cutlery sets.
Owning Land
Land ownership was once the ultimate sign of wealth, as it showcased one’s ability to produce, sustain, and influence. Owning land was directly tied to wealth because it allowed for agricultural production and self-sufficiency. If you could produce food, you could control everyone.
Large Libraries
A vast collection of books was once a treasure trove, signifying wealth, wisdom, and a leisurely life of the mind. Amassing extensive libraries was a sign of intellect, culture, and, therefore, wealth. You would be surprised at how much some books sell for. According to MoneyWeek, special books can cost hundreds of thousands of pounds to the right buyer.
Having Servants or Staff
Employing a household staff was a clear indicator of a lifestyle far removed from everyday struggles. Wealthy families often employed numerous servants for household tasks, such as cleaning, cooking, and child care. Servants even had specialized roles, such as butlers, maids, and governesses, indicating the wealthy owner’s expansive needs. Thankfully, everyone now agrees that having servants is pompous and unfair.
Exotic Pets
Keeping an exotic pet was not just about companionship but also about displaying one’s ability to afford what everyone else couldn’t. Exotic pets, such as peacocks, lions, and monkeys, were symbols of opulence and exoticism. These animals served as walking, breathing displays of their owners’ wealth and ability to acquire the unattainable, but now they’re just seen as cruel.
Rare Coin Collections
According to Investopedia, coins make some of the best investments. But getting into this hobby wasn’t easy. It needed a lot of knowledge about history and coins, and plenty of time to hunt down the rarest pieces. And, of course, enough money to buy them. This made coin collecting a special hobby that only those with plenty of resources could really enjoy.