What premium items are least worth it?
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What premium items are least worth it?
ie: What are some things you feel are totally overpriced, that most people do not see as price gouged?
To clarify, things like $2000 purses and $500 pens are obvious Veblen goods, so we can exclude those.
To clarify, things like $2000 purses and $500 pens are obvious Veblen goods, so we can exclude those.
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Re: What premium items are least worth it?
Here's a stab:
Vodka - a clear, flavorless drink. So why all the fuss?
Alcohol when dining out
Everyday items that aren't value-oriented:
Bottled water
Umbrellas
Newsstand magazines
Coffee house coffee when you're not staying for the ambiance.
Vodka - a clear, flavorless drink. So why all the fuss?
Alcohol when dining out
Everyday items that aren't value-oriented:
Bottled water
Umbrellas
Newsstand magazines
Coffee house coffee when you're not staying for the ambiance.
Re: What premium items are least worth it?
German make cars (even if actually made outside Germany)
Last edited by Leesbro63 on Sun Mar 16, 2014 8:13 pm, edited 1 time in total.
Re: What premium items are least worth it?
Watches. (that's what smart phones are for)
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Re: What premium items are least worth it?
What is the objection here as there are very reasonably priced umbrellas and they are very functional in the right circumstances.arsenalfan wrote:Umbrellas
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Re: What premium items are least worth it?
I'm amused by all the items so far......as I never buy any of them.
I thought answers would be along the line of Maseratis.....which are clearly overpriced by their resale value (or even new leftover value)
I thought answers would be along the line of Maseratis.....which are clearly overpriced by their resale value (or even new leftover value)
Bogle: Smart Beta is stupid
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Re: What premium items are least worth it?
Umbrellas = to clarify, they're very functional and not a "premium" item per se; more an item that I think many splurge on as a fashion statement. There are a ton of $$$$ stylish/fun ones (think MoMA/Brooks Brothers) that, in the end, get just as easily turned inside-out/broken by gusts as the $10 Totes variant.
Guess the same could be said for cars, watches, really any consumer item. I just know many folks who get bummed out when their fun/fancy umbrella gets demolished on a windy day.
Guess the same could be said for cars, watches, really any consumer item. I just know many folks who get bummed out when their fun/fancy umbrella gets demolished on a windy day.
Re: What premium items are least worth it?
Smartphones: between the high price and constant connection with others, I find them to be highly overrated.
Re: What premium items are least worth it?
The boys in the hood wear hoodies. An umbrella is a useless item, only used by fops and dandies who don't know how to pull their hoods up over their heads.placeholder wrote:What is the objection here as there are very reasonably priced umbrellas and they are very functional in the right circumstances.arsenalfan wrote:Umbrellas
Re: What premium items are least worth it?
I read recently that monocles have made a comeback, so you fops and dandies can wear one while sporting your umbrellas.
http://www.nytimes.com/2014/03/06/fashi ... ssory.htmlOne Part Mr. Peanut, One Part Hipster Chic
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Re: What premium items are least worth it?
Totally agree on smartphones. Constant connections to others - frequently equating to constant disconnection to present reality going on in front of you.
- fishnskiguy
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Re: What premium items are least worth it?
In my opinion, practically nothing is over priced. It's a very competitive world out there. If something is truly overpriced, it soon gets buried by the competition.jackpullo997 wrote:ie: What are some things you feel are totally overpriced, that most people do not see as price gouged?
Luxury costs. Get over it, or don't buy it.
My $2,000 bamboo fly rods will catch no more fish than a $120 Cabela's special of the day. It takes an hour to make the Cabela's and a week to make a good bamboo rod. Nobody sees me fishing bamboo. It's not status, it's appreciating fine workmanship.
There are lots of things I don't want to go high end on, but on the things I do, they are worth every penny. I'm currently lusting over a $10,000 shotgun which I very probably won't buy. But I sure can lust.
Chris
Trident D-5 SLBM- "When you care enough to send the very best."
Re: What premium items are least worth it?
I agree with everything except umbrellas. In Western Washington, a good (not expensive) umbrella is a must, if you do much walking, which I do. But I bought my trusty, over-sized umbrella for less than $20 at Costco over six years ago. And I no longer buy "coffeehouse" coffee because I think it's a big waste of money.arsenalfan wrote:Here's a stab:
Vodka - a clear, flavorless drink. So why all the fuss?
Alcohol when dining out
Everyday items that aren't value-oriented:
Bottled water
Umbrellas
Newsstand magazines
Coffee house coffee when you're not staying for the ambiance.
Re: What premium items are least worth it?
Hmmm…are you related to my husband?Ged wrote:Jewelry.
Re: What premium items are least worth it?
I assume you mean all German brands? If so, I disagree. My Audi Q5 is worth every penny and then some.Leesbro63 wrote:German make cars (even if actually made outside Germany)
My opinion... watches. Not only are they unnecessary... they can be outrageously expensive.
Re: What premium items are least worth it?
I'd agree that something is worth what someone is willing to pay for it, but I think things can cost more than their intrinsic value dictates.fishnskiguy wrote:In my opinion, practically nothing is over priced. It's a very competitive world out there. If something is truly overpriced, it soon gets buried by the competition.
Luxury costs. Get over it, or don't buy it.
For example, brand names.
Re: What premium items are least worth it?
People throw around the terms "overpriced" and "price gouging" far too much. We have a free market economy, things are priced based on what people are willing to pay. By definition if an item is overpriced then people wont pay for it and the seller will have to lower the price. That said, I think a lot of Americans are willing to pay a lot more than they should be for most consumer items, as most see no problem racking up debt to purchase items they feel they "need" or "deserve" even though they can't afford them.
Re: What premium items are least worth it?
Intrisic value is a difficult concept, other than the basic necessities of life (food, water, shelter) what consumer products actually have Intrisic value and how can that value measured? What, for example, is the intrinsic value of an iPad?ajcp wrote:I'd agree that something is worth what someone is willing to pay for it, but I think things can cost more than their intrinsic value dictates.
Re: What premium items are least worth it?
The ones you buy. The ones I buy are by definition worth it.
This is another thread to nowhere.
This is another thread to nowhere.
- cheese_breath
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Re: What premium items are least worth it?
Gourmet coffees. But then, I admit I'm no coffee connoisseur. Grocery store house brands are good enough for me.
The surest way to know the future is when it becomes the past.
Re: What premium items are least worth it?
Relatively or literally?Gnirk wrote:Hmmm…are you related to my husband?Ged wrote:Jewelry.
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Re: What premium items are least worth it?
Ged wrote:Jewelry.
Good, more for me.
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Re: What premium items are least worth it?
first class on an international flight
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Re: What premium items are least worth it?
Smartphones are a vital necessity in today's connected world.gcat wrote:Smartphones: between the high price and constant connection with others, I find them to be highly overrated.
And smartphones with GLOBAL connectivity options are possibly even more vital to some of us.
Pick premium chocolate ice cream as a better example of something not worth it.
Attempted new signature...
Re: What premium items are least worth it?
An huge wedding with waaay too many people. Been to a couple where the cost was most likely $300-400k.
Edit - meant to say things that are overrated. And I know it's not an item, but still think it's overrated.
Edit - meant to say things that are overrated. And I know it's not an item, but still think it's overrated.
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Re: What premium items are least worth it?
I would think certain things like this depend on the Net Worth of the purchaser.NOLA wrote:An huge wedding with waaay too many people. Been to a couple where the cost was most likely $300-400k.
Edit - meant to say things that are overrated. And I know it's not an item, but still think it's overrated.
If I'm a Zillionaire, a big wedding for $300K might be fun.
But if my retirement savings are just $600K, the same expense might spell disaster...
Attempted new signature...
Re: What premium items are least worth it?
+1sscritic wrote:
This is another thread to nowhere.
Re: What premium items are least worth it?
I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
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Re: What premium items are least worth it?
OK sure but what's an extra night in a luxury hotel?bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
I guess it depends on how you adjust to the time differences. For me, spending $3k isn't going to undo my body clock. For me, it might be better to start a day or two early and try to adjust to the time difference before setting off.
Have a fantastic trip!!!
Re: What premium items are least worth it?
Seems to me, a clear sell signal on Starbucks.Gnirk wrote: In Western Washington ... I no longer buy "coffeehouse" coffee because I think it's a big waste of money.
By the way, I think bottled water is a complete fraud. Since the product (water) is free, all you are paying for is waste. Plastic, transportation (fuel = CO2), landfill, ...
L.
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
Re: What premium items are least worth it?
bottled water, cable tv, hi end stereos, watches (love them, but no), alcohol at dinner, jewelry, expensive wallets, hotel suites, gambling in hi limit area, any car over 60k (tesla, bentley, amg benz), and hi maintenance spouse. and i've had all of these, enjoyed them, but regret their lack of value
- frugaltype
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Re: What premium items are least worth it?
How roomy is business class, as an alternative for you? I go crazy, figuratively, in steerage due to the lack of room.bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
Re: What premium items are least worth it?
I fly to ZA every year on KLM via Amsterdam. (Gets Delta miles. My target cost is less than $2k for a round trip, Detroit to Cape Town.)frugaltype wrote:How roomy is business class, as an alternative for you? I go crazy, figuratively, in steerage due to the lack of room.bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
The steerage seats are quite comfortable. You can get economy comfort across the Atlantic for a small premium. It's a long flight, but the issue is the time change and how much sleep you get, not space in the seat.
Take just a fraction of that $3k and splurge while you're there. Seek out the fine dining. It is inexpensive and amazing. (At the same time, regular restaurants are terrible.)
If you have special needs, first class may yet fit the bill.
L.
You can get what you want, or you can just get old. (Billy Joel, "Vienna")
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Re: What premium items are least worth it?
In my book as long as your retirement and kids' college are fully funded, you should be able to splurge on premium items that you love and will use regularly for a long time. We own two preowned luxury Lexus, own some beautiful estate jewelry, live in a modest house in an affluent area, It's all about balance- try to live for today but save enough for tomorrow since tomorrow is never a guarantee.
As for premium items least worth it: brand new cars, brand new luxury and name brand jewelry, manicure, pedicure, facials, spa unless of course for special occasions. Designer clothes, shoes and handbags which I am guilty of being fond of. I agree you can save so much making your own coffee. If you must splurge, just choose one item but absolutely you can never do it all without sacrificing your finances. So be smart and choose wisely.
As for premium items least worth it: brand new cars, brand new luxury and name brand jewelry, manicure, pedicure, facials, spa unless of course for special occasions. Designer clothes, shoes and handbags which I am guilty of being fond of. I agree you can save so much making your own coffee. If you must splurge, just choose one item but absolutely you can never do it all without sacrificing your finances. So be smart and choose wisely.
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Re: What premium items are least worth it?
Been there, done that, doing it again in August.bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
My suggestion is fly SAA economy (very nice) and take 3 days rest before beginning the safari. We will go to Kruger for 3 weeks but always stay the first 3 days at Berg en Dal at the beginning of the trip.
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Re: What premium items are least worth it?
The payoff from Jewelry depends entirely on the person you are hanging it on.island wrote:Ged wrote:Jewelry.
Good, more for me.
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Re: What premium items are least worth it?
I would say this is very much a case of having your own values and thinking for yourself. "If it be not fair to me, what care I how fair it be?" And, conversely, if it is worth it to you, it shouldn't matter what other people think. Just because things can be bought and sold does not mean they are equivalent to dollars, or that the same item should be worth the same amount to everyone.
A colleague of mine used to drink nothing but Kona coffee. He was very particular about it, said it was fairly difficult to get the real thing, was pretty sure he was getting the real thing, and occasionally shared it. I know what his Kona coffee tasted like, and it did taste different from ordinary coffee. A different colleague of mine practically lived for his Hawaiian vacations and alway brought back gifts of what he said was real Kona coffee, and it, too, tasted different from ordinary coffee, and tasted similar to the other guy's "real Kona."
Well, to me, the taste of this "real Kona coffee" was sort of dusty, a little weak in flavor (smooth or mild if you prefer), and seemed to me to have more caffeine in it than my customary Folger's. It was perfectly good coffee. It was different coffee. But, to me, it wasn't better coffee, not worth a dime extra.
Does that mean the other guys were frauds and phonies to whom the price of Kona wasn't worth it? I don't think so, not for a minute. It's just that "there's no accounting for tastes." And of course that is literally true--I don't know the extent of the research on individual variation in taste, but we did that thing with PTC (phenylthiocarbamide) way back in high school, and some people in the class couldn't taste it and some could.
How about sports memorabilia? I'm thinking of cases where there is nothing detectable by examination of a baseball, and the value comes entirely from the documentation attesting that it was the home run ball that won some World Series? Apart from the possibility of fraud, which it seems to me must be high, certification or no, this is a case of something that would have zero value to me, but I am perfectly prepared to believe the collectors who buy them are sincerely getting value.
Let's turn it around. I don't collect rare books, but when I am ordering a book through interlibrary loan, and when I get it it turns out to be an early copy, printed within a year or two of publication... yes, I get a little thrill at knowing that there might have been people who were reading "To Kill a Mockingbird" for the first time, maybe people who didn't know much about it before they picked it up, certainly who didn't know it was going to be famous. Why do I feel that way? It's the same book, the same words, as the required-reading paperback the kids read in high school.
A colleague of mine used to drink nothing but Kona coffee. He was very particular about it, said it was fairly difficult to get the real thing, was pretty sure he was getting the real thing, and occasionally shared it. I know what his Kona coffee tasted like, and it did taste different from ordinary coffee. A different colleague of mine practically lived for his Hawaiian vacations and alway brought back gifts of what he said was real Kona coffee, and it, too, tasted different from ordinary coffee, and tasted similar to the other guy's "real Kona."
Well, to me, the taste of this "real Kona coffee" was sort of dusty, a little weak in flavor (smooth or mild if you prefer), and seemed to me to have more caffeine in it than my customary Folger's. It was perfectly good coffee. It was different coffee. But, to me, it wasn't better coffee, not worth a dime extra.
Does that mean the other guys were frauds and phonies to whom the price of Kona wasn't worth it? I don't think so, not for a minute. It's just that "there's no accounting for tastes." And of course that is literally true--I don't know the extent of the research on individual variation in taste, but we did that thing with PTC (phenylthiocarbamide) way back in high school, and some people in the class couldn't taste it and some could.
How about sports memorabilia? I'm thinking of cases where there is nothing detectable by examination of a baseball, and the value comes entirely from the documentation attesting that it was the home run ball that won some World Series? Apart from the possibility of fraud, which it seems to me must be high, certification or no, this is a case of something that would have zero value to me, but I am perfectly prepared to believe the collectors who buy them are sincerely getting value.
Let's turn it around. I don't collect rare books, but when I am ordering a book through interlibrary loan, and when I get it it turns out to be an early copy, printed within a year or two of publication... yes, I get a little thrill at knowing that there might have been people who were reading "To Kill a Mockingbird" for the first time, maybe people who didn't know much about it before they picked it up, certainly who didn't know it was going to be famous. Why do I feel that way? It's the same book, the same words, as the required-reading paperback the kids read in high school.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Re: What premium items are least worth it?
Edward D. Jones products and the like.jackpullo997 wrote:ie: What are some things you feel are totally overpriced, that most people do not see as price gouged?
To clarify, things like $2000 purses and $500 pens are obvious Veblen goods, so we can exclude those.
This discussion reminds me of a locked discussion from long ago. I miss Petrocelli! ...who hasn't contributed since July 2013
http://www.bogleheads.org/forum/viewtop ... 28#p329928
http://www.bogleheads.org/forum/search. ... 2&sr=posts
Re: What premium items are least worth it?
Actively managed funds.
- in_reality
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Re: What premium items are least worth it?
100% Kona coffee. Definitely 100% Kona coffee. Unless you can really not only tell the difference between it and a 10% Kona blend, but also really care about that difference enough to justify the price.
I love Kona and if you don't know if you appreciate the difference between it and a 10% blend, you should have both.
Now if you are going for the $600/pound Kopi Luwak, make sure it's not fake! Anyway, it's definately not for me -- http://www.npr.org/blogs/thesalt/2013/0 ... t-for-that
I love Kona and if you don't know if you appreciate the difference between it and a 10% blend, you should have both.
Now if you are going for the $600/pound Kopi Luwak, make sure it's not fake! Anyway, it's definately not for me -- http://www.npr.org/blogs/thesalt/2013/0 ... t-for-that
Re: What premium items are least worth it?
The one that puzzles me the most is high end clothing. I like to buy nicer stuff as I've found that cheap stuff falls apart but the super high end clothing baffles me. The mark up on regular clothing is something like 150%, I can't imagine what it is for the luxury stuff. At least high end jewelry sparkles more but I couldn't tell the difference between a $100 dress or shirt and a $1000 dress or shirt.
Last edited by JonnyDVM on Tue Mar 18, 2014 5:36 am, edited 1 time in total.
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Re: What premium items are least worth it?
- SUV's- when bought solely to "sit high" or to avoid looking like a minivan
- Vehicles bought primarily looks or color paint
- Starbucks (unless getting just coffee)
- Most Apple products
- Stainless steel appliances
- Fancy commercial (or commercial look) ovens and stoves if people don't actually use them.
- Perfume/Cologne
- Any clothing purchased just by the name or just by what's in style
- Any drinks (alcohol or otherwise) bought while eating out. Ice water for me...
- Any hi-tech item in the top 25% price range (my biggest weakness)
- Most things not on sale or bought impulsively
- Buying something because it is on sale (for some items and stores this is their strategy). 50% off jewelry is the new retail, Kohls has a "not to miss" sale every weekend.
- Vehicles bought primarily looks or color paint
- Starbucks (unless getting just coffee)
- Most Apple products
- Stainless steel appliances
- Fancy commercial (or commercial look) ovens and stoves if people don't actually use them.
- Perfume/Cologne
- Any clothing purchased just by the name or just by what's in style
- Any drinks (alcohol or otherwise) bought while eating out. Ice water for me...
- Any hi-tech item in the top 25% price range (my biggest weakness)
- Most things not on sale or bought impulsively
- Buying something because it is on sale (for some items and stores this is their strategy). 50% off jewelry is the new retail, Kohls has a "not to miss" sale every weekend.
- frugaltype
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Re: What premium items are least worth it?
Then again, some of us buy it for ourselves and like it very much.Professor Emeritus wrote:The payoff from Jewelry depends entirely on the person you are hanging it on.island wrote:Ged wrote:Jewelry.
Good, more for me.
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Re: What premium items are least worth it?
I once tried on a designer (women's) suit. It was amazing. There was no comparison whatsoever between the workpersonship in that and off the rack clothing. Did I buy it? No, I was a starving student and it was two sizes too big. I just happened to run across it in Macy's.JonnyDVM wrote:The one that puzzles me the most is high end clothing. I like to buy nicer stuff as I've found that cheap stuff falls apart but the super high end clothing baffles me. The mark up on regular clothing is something like 150%, I can't imagine what it is for the luxury stuff. At least high end Jewry sparkles more but I couldn't tell the difference between a $100 dress or shirt and a $1000 dress or shirt.
Would I buy something like that now, if I had a lot more money than I do. Maybe.
Re: What premium items are least worth it?
Business class or perhaps premium economy. You might also see if it's possible to buy coach and pay to upgrade, which could be cheaper than buying a better seat outright.bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
Re: What premium items are least worth it?
You're just saying that because it's true.sscritic wrote:The ones you buy. The ones I buy are by definition worth it.
This is another thread to nowhere.
Re: What premium items are least worth it?
Your stand is at odds with an old European tradition of taking waters. After encountering during my summer vacations the cost of mineral water on par with beer, I switched to it at home. I buy cases of S. Pellegrino at Costco.Leeraar wrote:By the way, I think bottled water is a complete fraud. Since the product (water) is free, all you are paying for is waste. Plastic, transportation (fuel = CO2), landfill, ...
L.
Victoria
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Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
Re: What premium items are least worth it?
It's interesting that a half of the Bogleheads dream of squeezing into a Porsche but avoid squeezing into an economy seat.bartbill wrote:I'm struggling with this issue right now. We are both age 65. Taking a long flight to Johannesburg to begin a safari. Worried about starting out fatigued even with a days rest. First-class is an extra $3k.in_reality wrote:first class on an international flight
Bill
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
Re: What premium items are least worth it?
A Porsche has more legroom and most rides in a car are for far less time than a longhaul airplane ride.VictoriaF wrote:It's interesting that a half of the Bogleheads dream of squeezing into a Porsche but avoid squeezing into an economy seat.
Victoria