In high-net-worth divorce cases, the most valuable assets are not always apartments, bank accounts or company shares.

A garage may contain a Ferrari purchased during the marriage. A spouse may own several Rolex, Patek Philippe or Audemars Piguet watches. Jewellery worth millions of Turkish lira may be kept in a bank safe-deposit box. Paintings, sculptures, antiques or collectible objects may have been acquired from galleries and auction houses over many years.

When divorce proceedings begin, a practical question immediately arises:

Are luxury cars, watches, jewellery, paintings and other valuable collectibles included in the matrimonial property liquidation under Turkish law?

The answer is:

Potentially yes — but not every luxury object is treated in the same way.

Under Turkish matrimonial property law, the decisive questions are generally not whether the asset is “luxury” or expensive, but:

• when it was acquired;
• how it was acquired;
• who paid for it;
• whether it was inherited or gifted;
• whether it is exclusively for one spouse’s personal use;
• whether it was purchased as an investment;
• whether it still exists when the matrimonial property regime ends; and
• whether it was deliberately sold, transferred or concealed before divorce.

For valuable movable assets, these distinctions can change the result by millions of Turkish lira.

1. The Starting Point: Acquired Property Versus Personal Property

Under the statutory matrimonial property regime of participation in acquired property, the first task is to classify each asset.

Article 219 of the Turkish Civil Code broadly defines acquired property as property obtained by a spouse for consideration during the matrimonial property regime.

Article 220 identifies personal property, including:

• assets intended solely for one spouse’s personal use;
• property owned before the matrimonial property regime began;
• property received through inheritance;
• gratuitous acquisitions such as gifts;
• moral damages claims; and
• assets replacing personal property.

The distinction is essential because acquired property enters the residual-value calculation, whereas personal property is generally excluded.

There is also an important evidential presumption.

Under Article 222 of the Turkish Civil Code, a spouse claiming that a particular asset belongs exclusively to him or her must prove that claim. Furthermore, a spouse’s property is presumed to constitute acquired property unless the contrary is proved. The Court of Cassation continues to apply this presumption in matrimonial property disputes.

Accordingly, saying:

“That car is mine,”

or

“I bought that painting for myself,”

is not necessarily enough.

The legal character of the asset must be established.

2. Luxury Cars: Ferrari, Porsche, Bentley and Other High-Value Vehicles

Luxury vehicles are often among the easiest assets to identify because registration records exist.

Suppose a husband purchases a Porsche during the marriage for TRY 8 million using income generated from his business activities.

The vehicle is registered solely in his name.

Does the fact that his wife never drove it make it his personal property?

Normally, that fact alone would not be sufficient.

Where a vehicle was acquired for consideration during the matrimonial property regime using earnings constituting acquired property, it can enter the matrimonial property liquidation.

Turkish Court of Cassation decisions regularly treat vehicles as assets capable of being included in the calculation of participation and value-increase claims and require their market value to be determined correctly.

Therefore, registration in one spouse’s name does not automatically exclude a luxury vehicle from matrimonial liquidation.

Example

The spouses marry in 2015.

The husband buys a Ferrari in 2022 for TRY 12 million.

The purchase price comes from income generated by his company and transferred to his personal account.

The divorce action is filed in 2026.

The Ferrari remains registered in his name.

If the vehicle constitutes acquired property, its value may enter the residual-property calculation.

The wife does not automatically become the owner of 50% of the Ferrari.

Instead, its economic value forms part of the calculation that may eventually produce a monetary participation claim.

3. What If the Luxury Car Was Owned Before Marriage?

The result changes immediately.

Suppose the Ferrari was purchased in 2012 and the spouses married in 2016.

The vehicle would generally constitute the owner spouse’s personal property because it existed before the matrimonial property regime began.

Similarly, if the car was inherited from a parent or genuinely gifted to one spouse personally, it may constitute personal property.

However, the analysis should not necessarily stop there.

If substantial payments relating to personal property were made using acquired-property funds during the marriage, the rules on equalisation between property groups and, depending on the circumstances, other contribution rules may become relevant.

For example, if an expensive personal vehicle owned before marriage was financed through instalments substantially paid during the marriage from acquired earnings, the source of those payments should be investigated.

4. What If the Ferrari Is Registered to a Company?

This is a separate issue.

If the Ferrari belongs to a company with separate legal personality rather than directly to the spouse, the vehicle itself is legally a company asset.

The matrimonial property case will therefore normally focus on the spouse’s shares in that company and the economic value represented by those shares rather than treating the vehicle as though it were personally owned by the spouse.

This distinction is particularly important for business owners who use corporate entities to acquire expensive vehicles, boats, aircraft or real estate.

The mere fact that a spouse personally uses the Ferrari does not necessarily mean that he legally owns it.

Corporate ownership must be distinguished from personal ownership.

5. Luxury Watches: Is a Rolex Acquired Property or Personal Property?

Watches present a much more interesting problem.

Article 220 of the Turkish Civil Code expressly protects objects intended solely for one spouse’s personal use as personal property.

In a significant 2024 decision, the Second Civil Chamber of the Court of Cassation discussed the concept of personal-use property and expressly referred to clothing, jewellery, watches, accessories, sporting equipment, mobile phones, glasses and similar objects intended for a spouse’s personal use as examples capable of constituting personal property under Article 220. Court of Cassation, Second Civil Chamber, E. 2023/5704, K. 2024/2402, 4 April 2024.

Therefore, an ordinary wristwatch worn exclusively by one spouse will generally present a strong personal-property argument.

But high-value watches produce a more difficult question.

Consider:

• a TRY 100,000 everyday watch;
• a TRY 2 million Rolex Daytona;
• a TRY 8 million Patek Philippe;
• a collection of 25 investment-grade watches worth TRY 50 million.

Should all of these automatically be excluded simply because they can technically be worn on the wrist?

The answer should not be reduced to the brand or price alone.

The court may need to examine the actual economic and functional nature of the asset.

6. Personal Use or Investment Portfolio?

Suppose a husband owns one luxury watch that he has worn every day for fifteen years.

That is a strong example of a personal-use object.

Now consider a different situation.

During the marriage, the husband purchases:

• six Rolex watches;
• four Patek Philippe watches;
• three Audemars Piguet watches;
• several limited-edition pieces;
• all stored unworn in a bank safe;
• some purchased specifically because their secondary-market values were expected to rise.

The argument that the entire collection consists merely of “personal-use items” becomes less straightforward.

A high-value collection may have characteristics of an investment portfolio rather than ordinary personal consumption.

Evidence may therefore become important regarding:

• whether the watches were actually worn;
• how frequently they were traded;
• whether they remained factory sealed;
• whether they were insured as a collection;
• whether the spouse regularly purchased and resold watches;
• whether the collection was described as an investment;
• where the watches were stored; and
• how the purchases were financed.

There is no sensible rule that every Rolex must automatically be treated identically.

The legal character of the asset depends on the circumstances of the acquisition and use.

7. A Critical Issue: Who Paid for the Luxury Watch?

Even where an object qualifies as personal property because it is exclusively used by one spouse, the source of the purchase money should not be ignored.

Suppose a husband purchases a TRY 6 million watch during the marriage using money accumulated entirely from salary and business income.

He later argues:

“It is my personal watch, therefore my wife has no claim whatsoever.”

That conclusion may be incomplete.

If acquired-property funds were used to acquire or financially support an asset legally classified within the spouse’s personal-property group, the equalisation rules under Article 230 of the Turkish Civil Code may become relevant.

In other words, classification of the object and classification of the funds used to acquire it are two related but distinct questions.

For valuable luxury goods, a lawyer should therefore reconstruct the entire transaction:

purchase date → invoice → payer → bank account → source of money → ownership → current location → current value.

8. Jewellery and Precious Stones

Jewellery creates another important distinction.

A diamond necklace purchased from marital earnings during the marriage is not necessarily treated in exactly the same manner as jewellery received at the wedding.

The factual origin of the jewellery matters.

Questions should include:

• Was it purchased?
• Was it gifted by the other spouse?
• Was it inherited?
• Was it received at the wedding?
• Was it exclusively intended for one spouse?
• Was it purchased as an investment?
• Was it later sold or converted into cash?

Under Article 220, jewellery exclusively intended for one spouse’s personal use can qualify as personal property.

The Court of Cassation’s 2024 decision expressly recognises jewellery and watches among the categories that may constitute personal-use property.

But wedding jewellery requires a separate analysis.

9. The Court of Cassation Changed Its Approach to Wedding Jewellery

Older Turkish case law was often summarised with the proposition that jewellery and valuables given during the wedding were presumed to belong to the woman.

That description is no longer sufficient to explain the current Court of Cassation approach.

In its important decision E. 2023/5704, K. 2024/2402, dated 4 April 2024, the Second Civil Chamber expressly stated that its jurisprudence had changed.

According to the new approach:

1. If the spouses have an agreement concerning distribution of wedding jewellery, that agreement is applied.
2. If there is no agreement but a relevant local custom is alleged and proved, the custom may govern.
3. Otherwise, items of economic value given specifically to the woman or man generally belong to the spouse to whom they were given.
4. If an item is specifically associated with the opposite sex, it may be considered to have been given to that spouse.
5. Where ownership depending on whether an item is gender-specific is disputed, expert examination may be conducted.
6. Items placed into a common jewellery box or bag may require separate determination; items specific to one spouse may belong to that spouse, while items suitable for both may be treated as common.

This change is extremely important in modern matrimonial disputes.

Lawyers should therefore be cautious about relying automatically on older statements that “all wedding gold belongs to the woman.”

The factual circumstances of the wedding gifts must now be examined more carefully.

10. Diamond Rings, Necklaces and Jewellery Purchased During Marriage

Consider a different example.

Three years after marriage, a husband buys his wife a diamond necklace worth TRY 2 million as an anniversary gift.

Even if marital income funded the transaction, the circumstances may demonstrate a genuine gift to the wife.

Gratuitously acquired assets generally constitute personal property under Article 220.

Accordingly, the fact that a valuable object was purchased during the marriage does not automatically make it acquired property.

The intention behind the transaction matters.

This becomes particularly important with:

• engagement rings;
• anniversary jewellery;
• birthday gifts;
• luxury watches given as gifts;
• collectible handbags;
• valuable jewellery inherited from family members.

Evidence establishing the nature of the transaction should therefore be preserved.

11. Artworks: What Happens to a Picasso, Painting or Sculpture?

Art is perhaps the most overlooked category of matrimonial wealth.

A family may own:

• paintings;
• sculptures;
• antiques;
• Ottoman objects;
• Islamic art;
• contemporary art;
• photography;
• rare manuscripts;
• collectible carpets;
• designer furniture;
• limited-edition objects.

The same acquired-property/personal-property framework applies.

Suppose a spouse purchases a painting during the marriage for TRY 3 million using professional earnings.

Twenty years later, it is worth TRY 25 million.

If no personal-property basis can be established, the artwork may form part of the acquired-property calculation.

The fact that the painting hangs in the family residence does not automatically turn it into personal property.

Likewise, the fact that only one spouse is interested in art does not necessarily determine its legal classification.

The source and legal character of the acquisition remain central.

12. When Is Art Personal Property?

An artwork may clearly constitute personal property where, for example:

• the spouse owned it before marriage;
• it was inherited;
• it was personally gifted to the spouse;
• it replaced another personal-property asset.

Suppose a woman inherits a valuable painting from her grandfather.

The painting remains her personal property even though it hangs in the matrimonial home throughout the marriage.

If she later sells that painting and purchases another artwork exclusively with the proceeds, the replacement-value principle may also preserve its personal-property character, provided that the link between the two assets can be proved.

This is why documentation is crucial.

13. Art Bought as an Investment During Marriage

The opposite scenario is much easier to understand.

Suppose a husband earns substantial income during marriage and creates a contemporary-art portfolio.

He purchases paintings through galleries and auctions for investment.

The collection costs TRY 15 million.

By the time of liquidation, it is worth TRY 50 million.

The fact that the husband personally selected the artworks does not automatically make them personal property.

If they were acquired for consideration during the matrimonial property regime with acquired funds and no statutory personal-property exception applies, they can be relevant to the matrimonial property calculation.

The same reasoning may apply to:

• antique collections;
• collectible wine where lawful ownership and valuation issues permit;
• rare coins;
• valuable stamps;
• collectible sneakers;
• classic cars;
• designer furniture;
• trading cards;
• other alternative investments.

The legal system focuses on the economic character of the property, not whether it is held in a bank account.

14. How Are Luxury Assets Valued?

High-value movable assets create difficult valuation disputes.

Article 232 of the Turkish Civil Code requires the market value — sürüm değeri — to be taken into account in matrimonial property liquidation.

The Court of Cassation has recently reiterated that matrimonial property must be valued at market value and that, for assets existing at the end of the regime, the relevant valuation should normally be updated to a date close to the liquidation decision. Court of Cassation, Second Civil Chamber, E. 2024/2350, K. 2025/9092.

This matters greatly for luxury goods.

A Rolex purchased for TRY 500,000 may later be worth TRY 2 million.

A classic Porsche may become more valuable rather than depreciate.

An artwork acquired for TRY 1 million may later be worth TRY 15 million.

The original invoice price therefore does not necessarily determine the liquidation value.

15. Specialist Experts May Be Necessary

A standard valuation expert may be unable to value a rare watch or artwork accurately.

Depending on the asset, evidence may be required from:

• automotive experts;
• authorised luxury-watch dealers;
• watch auction specialists;
• gemologists;
• diamond laboratories;
• jewellery experts;
• art historians;
• gallery professionals;
• auction-house data;
• classic-car specialists.

Factors affecting the value of a luxury watch may include:

reference number,

serial number,

condition,

original box and papers,

service history,

production year,

rarity,

dial configuration,

provenance,

and secondary-market demand.

For artwork, relevant factors may include:

artist,

authenticity,

provenance,

dimensions,

medium,

condition,

exhibition history,

catalogue raisonné records,

previous auction results,

and authenticity documentation.

A poorly prepared valuation can therefore dramatically underestimate a matrimonial claim.

16. How Can a Spouse Prove That These Assets Exist?

Real estate has land registry records.

Cars have registration records.

Luxury watches and jewellery are more difficult because they can easily be hidden.

A spouse may simply claim:

“There was never such a watch.”

or:

“I sold the painting years ago.”

The lawyer should therefore look beyond formal ownership records.

Potential evidence may include:

• purchase invoices;
• bank transfers;
• credit card records;
• customs records;
• insurance policies;
• safe-deposit box records;
• photographs;
• videos;
• social media posts;
• WhatsApp messages;
• e-mails with dealers;
• auction-house invoices;
• gallery correspondence;
• jewellery certificates;
• gemstone certificates;
• watch warranty cards;
• authorised service records;
• serial numbers;
• vehicle maintenance documents.

For high-value movable property, evidence should be collected before the asset disappears.

17. Social Media Can Become Valuable Evidence

Luxury assets are frequently displayed publicly.

Instagram photographs may show the same watch being worn repeatedly.

A YouTube video may reveal a garage containing several vehicles.

A photograph taken inside the family residence may identify an artwork hanging on the wall.

Messages between spouses may contain statements such as:

“You bought that Rolex for EUR 70,000 last year.”

or:

“The painting is currently in the bank vault.”

These forms of evidence may help establish:

• existence;
• possession;
• timing;
• identity;
• approximate acquisition date.

However, obtaining and submitting electronic evidence must comply with Turkish procedural and privacy rules.

18. What If the Luxury Asset Is Sold Shortly Before Divorce?

This is one of the most important practical risks.

Suppose the husband owns:

• a Ferrari worth TRY 20 million;
• a watch collection worth TRY 15 million; and
• paintings worth TRY 25 million.

Six months before divorce, he suddenly sells them.

Does selling the assets make the matrimonial claim disappear?

Not necessarily.

Article 229 of the Turkish Civil Code protects the matrimonial estate against qualifying dispositions, including transactions performed with the intention of reducing the other spouse’s participation claim.

Where the statutory requirements are satisfied, transferred values may be treated as added values in the liquidation calculation.

Court of Cassation case law confirms that where an acquired asset is disposed of for purposes contemplated by Article 229, it may be treated in the liquidation calculation as though the relevant value had remained within the matrimonial estate.

Therefore:

“I sold the Ferrari before the divorce case was filed”

does not necessarily end the investigation.

The questions become:

When was it sold?

To whom?

For how much?

Where did the money go?

19. Transfers to Friends and Relatives Are Particularly Important

Suppose a spouse transfers a TRY 5 million Patek Philippe to his brother for TRY 500,000 shortly before divorce.

Or transfers a classic car to his father.

Or claims to have “gifted” several paintings to his mother.

Each transaction should be investigated.

Important factors include:

• relationship between transferor and transferee;
• timing;
• market value;
• payment;
• financial capacity of the alleged buyer;
• continued possession;
• continued use;
• location of the asset after the transfer.

If the spouse supposedly sold the Rolex to his brother but continues wearing it after the sale, that is obviously relevant evidence.

20. What If the Asset Is Hidden Abroad?

Luxury assets are highly mobile.

A watch can be transported internationally in a suitcase.

Artwork can be stored in a foreign warehouse.

Jewellery may be kept in a foreign bank safe.

A classic vehicle may be registered abroad.

The fact that the object is outside Turkey does not automatically determine whether its economic value is relevant to the matrimonial property dispute.

The main problems become evidence, jurisdiction, identification, valuation and enforcement.

Counsel should attempt to establish:

• exact description;
• serial number;
• purchase date;
• original invoice;
• location;
• custodian;
• registered owner;
• source of purchase money.

High-value divorce cases increasingly require asset tracing beyond conventional land registry and bank-account searches.

21. Practical Example: Ferrari + Rolex Collection + Paintings

Assume the spouses marry in 2014.

During the marriage, the husband earns substantial income from his business.

He purchases:

Ferrari:
Purchased in 2021 for TRY 9 million.
Current value: TRY 24 million.

Watch collection:
Eight watches purchased between 2018 and 2025.
Current value: approximately TRY 18 million.

Art collection:
Six paintings purchased between 2017 and 2024.
Current value: approximately TRY 30 million.

The divorce action is filed in 2026.

The correct legal approach is not simply to add TRY 72 million and divide it by two.

Each asset must first be classified.

Ferrari

If acquired for consideration during marriage from acquired earnings, it may be acquired property and enter the liquidation calculation.

Watches

Each watch should be examined separately.

Some may constitute personal-use items.

Some may have been gifts.

A large investment-oriented collection may require more detailed analysis.

If acquired-property funds financed personal-property assets, equalisation issues may arise.

Paintings

If purchased as investments during the matrimonial property regime with acquired earnings, they may constitute acquired property.

If one painting was inherited from the husband’s father, that particular painting would generally remain personal property.

Only after this classification can an accurate participation claim be calculated.

22. The Central Litigation Strategy

In a high-value matrimonial property case involving luxury movables, the lawyer should create an asset inventory as early as possible.

For each item, record:

This immediately identifies the real disputes.

The lawyer can then ask:

Can the asset be proved?

Can the purchase money be traced?

Is it acquired or personal property?

Has it been sold?

Was the sale genuine?

What is its present market value?

That is considerably more effective than merely alleging that the other spouse “owns luxury assets.”

23. Final Takeaway

Luxury property does not disappear from Turkish matrimonial property law merely because it can be driven, worn, hidden in a safe or hung on a wall.

A Ferrari may be acquired property.

A Rolex may be personal property — but the funds used to acquire it may still create an equalisation issue.

A diamond necklace may be a personal gift.

Wedding jewellery requires application of the Court of Cassation’s updated 2024 jurisprudence.

A Picasso or valuable painting purchased as an investment during marriage may be part of the acquired-property calculation.

An inherited artwork may remain entirely personal property.

The decisive question is therefore not:

“Is this a luxury asset?”

The better questions are:

When was it acquired?

Where did the purchase money come from?

Was it intended for personal use, given as a gift or acquired as an investment?

Where is it today?

And most importantly:

Was it sold, gifted or hidden shortly before divorce in order to keep its value outside the matrimonial property liquidation?

In high-net-worth divorce litigation, a garage, watch box or art collection can be economically as important as a portfolio of real estate.