Palm Beach Trades Its Yachts for Yield: The Watch in the Safe Now Has a Ticker

Down here, the passion has always come first and the portfolio second — a boat in the marina, a watch on the wrist, a case of something French in the cellar. What's changed, per a new wire report, is that a set of firms now treats those same collectibles as their own asset class, built to be tracked and valued the way a stock or a bond would be. For a stretch of coastline where the difference between a hobby and a holding has never been entirely clear, that's less a new idea than a name finally put to an old habit.

With reporting from Robb Report.