Forbes.com offers further insight into China’s taste for luxuries. Here the commentary is on yachts and their unsuitability for Chinese buyers. But the salient piece of information is the emphasis on resale value and dollar depreciation:
Yachts and private jets may not be as popular as expected in China. Rich Chinese are more practical than their Western counterparts — they don’t mind spending millions on luxury goods as long as they believe the resale value won’t depreciate faster than the greenback. Yacht and private jet markets are also hindered by geographic and political constraints.
Vivian Wai-yin Kwok On What China Buys–Luxury (Bloomberg)
