Want yellow seat belts in your Porsche? Or green thread for your car’s leather seats?
Join the waiting list, says Kevin Gallagher of Porsche of Rockville.
Wealth gap widens distance between Congress, constituents
Between 1984 and 2009, the median net worth of a member of the House more than doubled, according to a Post analysis.
Special report: Breakaway wealth
A series about America’s rising income inequality and the policies and practices that are creating it.
“We’re finding that people want to sit down and custom order everything — the colors, the interiors, the wood paneling,” Gallagher said. “Fewer and fewer customers are walking in and saying, ‘Yeah, I’ll take that one as-is.’”
As the economy sputters back from a deep downturn, analysts and business owners say the region’s wealthy are spending as much as they always have. High-end customers may be toning down flashy purchases, but they are increasingly looking for customized experiences and exclusive treatment — and local businesses are adapting to meet those needs.
“Value is perceived very differently than it was five or 10 years ago,” said Aba Bonney Kwawu, president of the Aba Agency, a public relations firm that specializes in high-end businesses. “It’s more about authenticity and having a unique experience. The more personalized you can get, the better.”
At Pampillonia Jewelers in Mazza Gallerie, traditional gemstones have taken a back seat to rarer jewels such as yellow diamonds and pink sapphires. More of the area’s wealthy are looking for historical homes in D.C. instead of instant mansions in Great Falls and Potomac, said TTR Sotheby’s President Jonathan Taylor. And at Conner Contemporary Art in the District, patrons are reaching for off-beat digital light sculptures and video art.
“Are people buying safer art in this economy? No, not at all,” said Leigh Conner, the gallery’s owner. “High-end collectors are more open to new kinds of art. There’s been a movement toward the cutting-edge.”
There has also been a shift toward exclusivity, said Milton Pedraza, founder of the Luxury Institute, a research firm that focuses on wealthy consumers.
“Luxury brands have cleared anything that could erode their luxury standing,” he said. “They want to be known for catering to the affluent.”
An influx of a younger aspirational population in the Washington area has also changed the way many restaurants, bars and even art galleries cater to the area’s monied.
The number of art collectors between the ages of 25 and 40 has surged in recent years, says Phillipa P.B. Hughes, founder of the Pink Line Project, an arts organization in the District.
“This is a very educated city and a very professional city,” Hughes said. “There have been a plethora of pop-up galleries to cater to the area’s younger population.”
Membership at the L2 Lounge in Georgetown, which charges an annual fee of $1,500 per person, has also increased steadily over the last year.
“We’re very careful about who we invite in,” said Katelyn Gimbel spokeswoman for the establishment. “We only accept people our members are going to like sitting next to at the bar.”
Potential members must go through an application process and be vetted by the lounge’s owner. When Maxim Magazine approached the establishment about hosting a party that would be promoted in the publication’s pages, Gimbel says L2 promptly declined.
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