Our friends just bought a very expensive new house for $4 million. They’re hosting a housewarming party for about 15 people, and my wife is thinking about what to give as a gift. I feel like any “item” we buy might be unusual, disappointing, or critical. A nice bottle of liquor is always an option, but not a particularly creative one, although it’s the only thing I’m leaning toward right now. We’re relatively close friends, but also relatively new. Does anyone have any good advice for a very wealthy friend in this situation?
He takes a photo of his new $4 million property. Then, he finds a local artist who can paint the image on a Christmas tree ornament. I’ve been selling luxury real estate for 30 years, and my clients, regardless of their social status, have always appreciated the gift. And they remembered me at Christmas because I wasn’t one of those shamelessly self-promoting agents. Modification: I bought a larger white Christmas tree ornament for the artist, a college art professor. Modification 2: The ornament cost $20, and the artist received $100.
Honestly, rich people don’t care so much about the price of an item, but rather its history and value. Give them a unique travel item, something handmade, or something that represents their culture. I’m Chinese, and a sack of rice and a bamboo/money tree bring good luck to a new home. So I take them to my friends to wish them luck at their housewarming parties. They love it, whether they’re rich or not.
Instead of wine or liquor, why not give a bottle of fine olive oil? A selection of fine salts also makes an original and elegant gift.
Bring a beautiful floral arrangement.
For close family members, we purchase sketches/portraits of the house from local artists for around $200-300. For close friends, we try to buy based on their habits and hobbies. If they have a pool, we give them a nice set of personalized pool towels. If they like lawn games, we might give them a new cornhole set. If they like seafood, we give them deluxe seafood crackers and scissors from William Sonoma.
A luxury candle or soap from Jo Malone, Diptyque, Le Labo, or Aesop are my favorites. It’s a substantial amount for you, so it’s a lovely gift. Just remember to include the receipt in case you don’t like the scent.
I gave toilet paper to my hedge fund friend. Five years later, he’s still talking about it.
Think about the things they like or that you’re drawn to as friends. I have two memorable gifts from our housewarming party. The first was a hand-carved wooden sign that said “Property X established at.” The second was, seriously, a simple Lego brick with a handwritten note: “Don’t tread on me.” Everything else was flowers, wine, whiskey, etc.—all good… and we enjoyed it, but it wasn’t memorable in the long run. On the other hand… the sign now hangs in our bar, and the Lego brick is on my desk.
My favorite is the Aesop hand cleansing and moisturizing set or a similar brand.
Homemade products are popular across all income groups.
I’ve made it several times: homemade Nutella and homemade brioche. It was a huge success and a great breakfast the next day.
The Book of Monsters
I recently gave my friends a Grant Achatz cocktail and coffee recipe book for a housewarming party. It was a huge hit.
A bottle of wine, even a not-so-good one, like a $40 one, that people enjoy and then forget about. Just because someone is rich and bought a fancy house doesn’t mean they deserve to be showered with expensive and overly thoughtful gifts. If someone buys a $200,000 house, should you give them a $7 bottle of wine because they’re poor and can’t make more? Don’t try to be like everyone else, especially when giving them gifts.
Haha, the last thing anyone needs is personal clutter taking up space. Opt for something consumable. A mundane gift is better than an extravagant one. Ideally, they won’t give the gift any more thought than to say, “Oh, thanks, guys!” It’s a housewarming party, not a milestone birthday.