In today’s society, status symbols are everything. They help us feel confident, showcase our personality and allow us to project wealth. Real or perceived we all want to be or at least appear wealthy. Why? Wealthy people have nice stuff. They drive nice cars and live in fancy houses. They have fun.
We want to live in a fancy house and have fun, too.
Besides, luxury items are better! I mean…they are called luxury for a reason.
Luxury items typically aren’t considered high end just for the sake of it. They are quality. Built to last. The longevity and attention to detail is what allows them to command a premium price tag.
A premium price has other benefits too.
That’s right. Luxury items retain their value better than budget items.
A simple search of eBay or any of the other resale stores proves this. Look for Rolex, Prada, or Stuart Weitzman. Even on the secondary market these watches, bags and shoes command 70% or more of their original retail price tag.
Want a Burberry trench? It’ll set you back $
This phenomenon holds even more true for jewelry and high-end watches. It’s so ubiquitous that high end watches are thought as a global currency equivalent.
Take a Rolex into any jewelry store in the world and they will immediately be able to both verify the value and offer you the equivalent value denoted in their own currency.
Now, this isn’t an email about inter-country money transfer.
But we do want to show you how a few, well purchased luxury items can serve as an excellent store of value – and in rare collectible cases, even an investment that will appreciate over time.
So, go ahead – buy the Rolex 😉