Industry News

Let’s talk about luxury

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Editor's note: Jeff Winsper is the founder of Winsper, a firm launched in 2002 that focuses on advertising and marketing to high-net-worth consumers. Along with J.D. Norman, the agency's executive vice president and managing director, Winsper sat down with Inman's "Real Estate Rookie," Alison Rogers, to talk about luxury marketing in these tough times. ROOKIE: I've been taking a look at high-end real estate markets around the country, and my impression is that in many of them volume has stalled but prices haven't dropped much, if any. How are affluent consumers changing their spending habits due to the downturn? WINSPER (JW): We have a client who sells $2-million-plus boats. (That client is) doing fine. We did some consulting with a client who sells private planes. (That client has) still got a two-year backlog. The ultra-high-net-worth consumer may have less in terms of percentage of their net worth than they did a few months ago, but they still have plenty of mo...