A survey conducted among Chinese millionaires in early 2024 revealed that around 64 percent of respondents were considering buying used luxury items. Watches and jewelry were the most popular second-hand luxury goods among China's super-rich.
Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024
among high net worth individuals with personal assets over ten million yuan
Supplementary notes
The survey was conducted among 750 respondents with personal assets of over ten million yuan. 47 percent of respondents were from tier-1 cities, 53 percent were from new tier-1 and tier-2 cities. The respondents' average age was 36 years old, and the average household assets of respondents were 45 million yuan. The average number of real estate owned by respondents was three, and the average living space was 270 square meters.
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Hurun Research Institute. (March 29, 2024). Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024 [Graph]. In Statista. Retrieved November 18, 2024, from https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/
Hurun Research Institute. "Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024." Chart. March 29, 2024. Statista. Accessed November 18, 2024. https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/
Hurun Research Institute. (2024). Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024. Statista. Statista Inc.. Accessed: November 18, 2024. https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/
Hurun Research Institute. "Share of Chinese Millionaires Who Would Buy Second-hand Luxury Goods in China as of 2024." Statista, Statista Inc., 29 Mar 2024, https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/
Hurun Research Institute, Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024 Statista, https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/ (last visited November 18, 2024)
Share of Chinese millionaires who would buy second-hand luxury goods in China as of 2024 [Graph], Hurun Research Institute, March 29, 2024. [Online]. Available: https://www.statista.com/statistics/1289980/china-acceptance-of-second-hand-luxury-goods-among-millionaires/
