If you are one of the very few people on earth who has an Ultra High Net Worth friend, perhaps you have faced the dilemma of trying to purchase a gift for them. After all, the very, very rich have birthdays too. (Of course, if you happen to be related to one of these UHNW individuals, then count your blessings and keep reading).

Both relatives of and marketers to UHNW individuals can draw upon the same lesson.

UHNWIs are a pretty elusive group. But what we know about them is that the wealth they have amassed allows them to want for nothing in the way of consumer products. Whatever they want or need, they simply buy. This leaves the gift-giver with few options.

Lorre White, a consultant who bills herself as “the guru of luxury” suggests that for UHNW individuals, the best option is experiential gifts that are either educational, or those that create a situation where memories can be made with friends, family and loved ones. She suggests that you look for things that will touch the heart or bring back happy memories, instead of trying to impress them with the monetary value of your gift.

At Mascola Group, this emphasis on experiences is in line with our own proprietary research among UHNW couples, which clearly shows that the luxury brands you think you need to buy do not hold the same level of importance, or even value, to the very wealthy that marketers might expect. These folks just don’t need the brand value proposition to make them feel good. And that’s not necessarily good news for luxury consumer goods brands – or for those who need to foot the bill for a gift.

You’ll likely still spend a bundle. Here are a few of White’s suggestions for experiential gifts:

Things like luxury travel where they stay in old castles in the rooms of historical figures, or wine tasting tours through France, or 3 day cooking lessons from an Italian chef where they shop the local markets and learn about the olive oils, wines, local cuisines or travels to far off and exotic locations, or interesting experiences like heli-skiing.

Easier said than done on a less-than-ultra-high-net-worth budget.

Still, the work that we do in this area supports that thinking in every way. Since time is such a valuable asset to the UHNW target, any gift that allows them to spend time enriching themselves and allowing them to share that time with those they care about is most appreciated.

So, the trick is to find small, obscure, and affordable mini-adventures and experiences that your wealthy friend doesn’t even know about. Try to make contact with a really unique destination, and see if you can buy some special access or admission that is not normally available. Can you get a one-off guided tour of a landmark at night? Can you go behind the scenes at an iconic theater and see what is usually off-limits? Can you arrange for your friend to join a great local chef in the kitchen for a night? It will take some effort, and a bit of cash, but it could probably be considered a good investment.

Keeping your HNW or UHNW friends happy can be rewarding.