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5 Reasons Celebrities Need An Asset Tracking Solution

Whether it’s in magazines, on the television, or online, we all see the fancy lifestyles celebrities lead. A taste of the famous life would undoubtedly be fabulous, but the life of the rich and famous isn’t always easy and carefree. After spending millions on maintaining a luxurious lifestyle, think about the stress celebrities must face worrying about pricey possessions. Investing in an asset tracking system that keeps track of valuable assets would be advantageous. Below are five examples of the expensive assets celebrities could use help managing. 1. Cars, cars, cars! For many of us, owning a car is a necessity for travel to work, school, and other errands. According to TrueCar.com, the average transaction price for a new vehicle was $31,252 in August 2013. For celebrities, a car isn’t a necessity - it’s a status symbol. That average transaction price is considerably less than what a celebrity will spend on a car. Rapper Jay-Z owns the most expensive car in Hollywood – an Exelero at $8,000,000. Some celebrities not only own one car, they own a collection of impressive vehicles. A pricey car collection needs maintenance. An asset management solution would help these car-loving celebs keep track of their Porsches and Ferraris and stay updated on needed maintenance. 2. Wine A person can purchase a decent bottle of wine for $20 - $40. However, many celebrities don’t just own a couple of bottles of wine. Instead, they spend millions of dollars creating magnificent wine cellars that hold hundreds of bottles of fine wines. Jennifer Aniston recently installed a 1,600-square foot wine cellar in her Bel Air home for about 3.2 million dollars. A large assortment of wine is a valuable asset. To prevent people from walking away with wine whenever they want, we suggest that Aniston keeps tabs on her bottles with an asset management software. 3. Art When celebrities want to invest their money and at times they turn to the arts. Many have extensive art collections, and, in addition to displaying their art at home, some decide to share their pieces in other locations. In fact, some celebrities have collections so superb they lend their pieces to museums. For example, George Lucas and Steven Spielberg lent their Norman Rockwell pieces for an exhibit at the Smithsonian American Art Museum. To ensure the art is returned properly, it’s imperative to keep track of where it’s all sent. An asset tracking solution would help. 4. Clothes & Shoes Just watch an awards show or a movie premiere, and it’s hard to miss the extent to which celebrities use their outfits to wow the crowd. And oftentimes, they spare no expense. To the 2007 Academy Awards, Kate Winslet wore a $100,000 Valentino dress. The shoes celebrities choose to pair with their outfits can typically cost just as much. That’s a lot of money walking down the red carpet. (Not to mention the after party.) An asset tracking solution would ensure celebrities can find the perfect shoes for their outfit quickly without having to search through their massive house. If he were to lose a shoe, we wouldn’t expect a prince to search endlessly until he found the owner. Instead, we recommend also using an asset tracking solution to make sure it doesn’t wind up in the wrong hands. 5. Jewelry This is especially for celebrity jewelers. In addition to the incredible outfits celebrities wear, they also have stylish jewelry to complete the look. Jewelers will often provide celebrities with pieces as they walk down the red carpet to receive recognition. Although it gains the jeweler visibility, it’s a risky (and potentially expensive) marketing tactic. In order to make it less so, we suggest implementing an asset tracking solution that would help to help quickly locate any necklace or earring - eliminating time wasted searching for missing items and the unnecessary expense of a lost piece. While a small business may not have the lavish assets listed above, it still has valuable assets that need to be managed, including computers, tablets, or mobile phones. An asset tracking solution makes it simple to manage an organization’s valuable properties and allows a small business owner to instantly locate any asset; eliminating wasted time spent searching for missing items and unnecessary expenses replacing lost assets. An asset management solution will save a small business money and time so managers can direct their attention to other responsibilities.