You’ve been in this aisle at Target for twenty minutes, and there’s one thing on your mind – Which pack of cards to choose?
This was a common problem for many growing up if you were an avid baseball card collector. You probably had somewhere around $5 to spend on baseball card packs, and there was a limited amount of time to decide which pack of cards to get. As stressful as these decisions were, it was all worth it when you got home, ripped open those packs and gazed upon your new cards.
We all had hobbies growing up. Maybe you collected baseball cards, read comic books, collected stamps or played sports. As a kid, you have ample leisure time so you find creative and inexpensive ways to entertain yourself.
We still have hobbies as adults, but freedom and access to money have changed our perception of what’s fun to do in our free time. Instead of playing with action figures, you might play video games on the latest gaming system. Instead of running around outside, you may travel the world and visit a new country every year. Remember when you had a ship-in-a-bottle collection? Now, you take your boat out for a joy ride on the lake.
You don’t have to spend a lot of money to enjoy a hobby. However, wealthy people have access to some incredible activities that you maybe didn’t know someone could do. Unfortunately, some of us may have to wait to win the lottery in order to partake but hey, at least we can read about them. Here are ten of the most expensive hobbies in the world.
10. RC Airplanes
Cost: $700 and over.
Building a remote control airplane has everything you want in a hobby. It’s challenging and takes a lot of creativity to build the plane, but being able to fly it successfully is extremely satisfying. You’re going to have to save some money if you want to get into this hobby.
While there are ready-to-fly RC airplane models that run around $100-$200, if you want to build your own, they get pricey fast. As a beginner, you’ll need to spend roughly $700 for all of the parts to build a pretty basic airplane. The price continues to rise as you become more skilled and advanced. Tyler Perry is known for having a big and expensive RC plane collection. The high-end planes cost a few thousand dollars.
9. Traveling The World
Cost: $20,000 – $30,000 per year
For some people, their hobby consists of visiting the local park. For others, their hobby is traveling to a different continent. Must be nice, right?
Traveling can be quite pricey, and most people don’t have the luxury of being able to drop everything they’re doing in their lives and spend an ample amount of time on the road. For some people it can cost less to travel year round than to live at home.
The average cost for a year-long road trip is between $20,000 and $30,000. The cost can be difficult to calculate exactly since there are a lot of factors that are different from person to person, but this is a respectable price range if you don’t spend too much money on unnecessary items.
8. Car Racing
Cost: $10,000 – $100,000
Rev your engine, honk your horn and get ready to spend a whole lot of money. You’re going to need it if you want car racing to be a serious hobby.
Car racing is a dangerous hobby, so you need to make sure you have the best safety equipment. You can buy cars that are meant for racing with all the appropriate equipment for anywhere from $10,000 to $100,000. Plus, the life insurance for an extreme racer will cost approximately $566.34 per month. Hopefully, you’ll get hired by NASCAR and stick sponsors’ logos on your car to cover the cost.
7. Flying A Plane
Cost: $21,000 to $206,000
Have you ever wanted to just hop in an airplane and in a few hours be anywhere in the world? You can, if you learn how to fly.
Although aviation is a full-time job for many, it’s a popular hobby for others. It can cost around $7,000 for lessons to get a private pilot rating, which allows you and your family to fly anywhere in the world in a single engine plane. However, if you plan to fly extremely long distances on a regular basis, you might want to gain additional ratings and learn to fly something a little sleeker (and faster) — like a small jet.
After you are done with lessons, you can buy a quality airplane for as cheap as $15,000, and as much as $200,000.
The initial cost of getting a pilot’s license is possible for many, especially since there are scholarships and other financing options available. The real cost comes, though, if you want to pursue additional certifications beyond the private pilot’s license or if you want to buy your own plane — particularly if it’s that personal jet you’ve been eyeing.
6. Ballroom Dancing
Cost: $30,000 – $100,000 per year.
You’re going to have to shell out the big bucks if you want to live out your dream of being on Dancing with the Stars, not to mention you’ll have to get some starring role in a movie or TV show — or become a Kardashian.
Ballroom dancing is an intense performance art that combines physical movements and emotional storytelling. Learning how to ballroom dance isn’t too costly, since private lessons cost $50-$200.
However, it gets more expensive if you want to start to compete, like a lot more expensive. It could cost you anywhere from $30,000 to $100,000 to partake in competitive ballroom dancing. The price tag all depends on the competition, outfit and other accessories needed to shine on the dance floor.
Cost: $150 – $250 per minute.
Skydiving is a once-in-a-lifetime bucket list experience for most people, so the price is often worth it. The adrenaline rush of jumping out of an airplane is indescribable. For those who make it a hobby, though, it can get quite expensive.
It’s especially expensive when you look at the cost-to-time ratio. Each jump typically lasts for less than a minute. Even if it does last a full minute and you pay the cheap rate of $150, you’re paying $2.50 per second! You better have a lot of money if you make skydiving a hobby because the cost is going to add up very quickly.
4. Exotic Pets
Cost: $150,000 and over
Apparently, it’s no longer acceptable to be rich and have a dog. If you’re in the public eye, you have to have a pet cheetah, octopus or maybe a monkey.
Exotic pets seem to be all the rage with celebrities. Nicolas Cage bought a pet octopus for $150,000 to become a better actor by studying other life — so don’t be surprised to see Cage exclusively star in underwater dramas.
While it’s still a lot of money, $150,000 is relatively cheap for an exotic animal. Plus, you have to make sure you take care of it. Kirstie Alley hired two people to take care of her pet lemurs, and she pays them each $40,000 – $50,000 a year.
3. Yacht Racing
Cost: $8 million – $10 million
You know someone is rich when they own a yacht but you know they’re especially rich when they race their yacht with the possibility of it crashing.
Yacht racing is a popular hobby among billionaires. It costs about $8 to $10 million to build a yacht that’s racing ready. This doesn’t include the cost of labor to build, maintain and steer the yacht, either. People also normally build two yachts in case one of them crashes, so it’s safe to double the cost.
Sure, it’d be fun to race a world-class yacht at ridiculous speeds, but we’ll just play it safe and relax on a snazzy stationary yacht instead, leaving the actual racing to the Bill Gates-types of the world.
2. Vintage Car Collecting
Cost: $16 million.
The vehicle that someone drives tells you a lot about who they are as a person and what they value. Do they prefer safety, thriftiness or luxury?
Now, if the car they drive tells you who they are as a person, what about the cars they collect?
Many things in the automotive industry are hobbies for people. That’s why car shows and car magazines are so insanely popular. The craft and model of a car is considered its own art form, and car lovers can appreciate this.
Unfortunately, you’re going to need a lot of spare change if you want to start collecting vintage cars as a hobby. The most expensive car ever sold at an auction was a 1957 Ferrari 250 Testa Ross, and it went for $16 million. It might be best to leave this hobby to celebrities like Jerry Seinfeld and Jay Leno.
1. Art Collecting
Cost: $300 million.
We’ve all seen the intense art auction scenes in movies, but do people really spend that much money on a piece of artwork? You bet they do.
Just like any of these hobbies, the cost can change dramatically based on your budget. For example, you could buy some artwork from your neighbors’ kids for $5. Congratulations! You’re now an art collector.
But in all seriousness, though, you need a lot of money for a real art collection. The most expensive painting ever sold went for $300 million. That’s a lot of zeroes to hang a framed painting on your wall.
Well, there’s the list of all the dream hobbies of billionaires. We’ll probably just stick to the baseball cards.
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