How to Buy Luxury Graduation Gifts

Graduation is an exciting time each year for both high school and college graduates. You can think beyond the typical gift cards and monetary gifts if you have a special graduate in your life.

Difficulty: Moderate

Instructions

1. Check with the graduate's parents first when you buy luxury graduation gifts. See what their opinions are on luxury graduation gifts, and make sure that what you plan to buy isn't something they're already planning to buy.

2. Pick a luxury graduation gift from a wide range of options. Cars, European vacations or even one month's college tuition are possible luxury graduation gifts.

3. Give airline miles as a luxury graduation gift so the graduate has flexibility when redeeming them. Your graduate can decide whether to use the airline miles to go on spring break or fly home for the holidays.

4. Go exotic. A Kentucky Derby fan might enjoy a joint racehorse ownership. Buy a telescope for a science buff.

5. Buy stocks as a luxury graduation gift, but consult a tax professional to discuss the possible tax benefits and liabilities associated with certain investments.

6. Select less-expensive yet still indulgent gifts if you can't afford all-out luxury graduation gifts. You can have almost anything from flowers to cheesecake to gourmet coffee delivered to someone each month for about $200 a year. Leather-bound notebooks and other designer school supplies also make great graduation gifts.

Tips & Warnings

• Get parental approval before purchasing a luxury graduation gift for a high school graduate. You risk offending the parents if you buy the graduate a lavish gift, especially if the parents want to avoid overindulging their children. Parental approval isn't necessary when buying luxury gifts for college graduates.

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