Pay Too Much for everything • Hacker News Board

Re: Pay Too Much for everything

#151

Post by meric » Thu, Jul 12, 2012, 9:56 PM UTC

qxcv wrote: post #49

meric wrote: post #35

Earlier quoted context omitted.

Well, the $60 earphone actually comes with a 2 year warranty... whereas the $15 one does not.

Buy fewer than four pairs of $15 headphones in two years and you're still ahead. At least, you're still ahead financially; value is virtually impossible to quantify when you take into account subjective qualities like sound, appearance and comfort.

The $15 earphones last 3-4 months and I'm tired of spending an hour every few months to pick an ear phone, as well of the "music down time" that entails. That's why I started paying more. Hopefully my $60 ear phones last longer. I would rather not have to rely on the warranty.

Re: Pay Too Much for everything

#152

Post by sliverstorm » Thu, Jul 12, 2012, 11:01 PM UTC

wccrawford wrote: post #68

A while back, I stopped buying the highest-priced goods and started doing research instead. What I found what the best things weren't the highest-priced. I also found that I could find the best items for me because what I care about isn't necessary what others care about. Using this, I've managed to buy better shoes, toasters, and even a car than I've ever had before, and at less than I would have spent if I hadn't d…

What I found what the best things weren't the highest-priced.

Agreed; I've found the best things are often in the ~75th percentile of price. High quality goods are rarely bargain-basement priced, and non-luxury choices usually perform better than their more expensive luxurious counterparts.

Re: Pay Too Much for everything

#153

Post by lelele » Thu, Jul 12, 2012, 11:17 PM UTC

marekmroz wrote: post #137

ImprovedSilence wrote: post #65

Earlier quoted context omitted.

Learn. Just because you don't know now, doesn't excuse you from not knowing when you go to make a purchase. There are a number of ways to acquire knowledge out there. Go get it.

Just don't go overboard with looking for the absolute best. Your post reminded me of "The Paradox of Choice" [1], a book by Barry Schwartz that I read not long ago. One of the claims that the author makes is that satisficing is the best maximizing strategy. After factoring in stress, wasted time and dissatisfaction that result from looking for "the best" product or price it turns out that paying a bit more for a prod…

But how can you decide whether a product is a good trade-off when you don't know what the best is? I think that leaving the decision to trustworthy experts is the most viable solution.

EDIT: Actually, your best long term investment could be learning how to spot trustworthy expert advice.

Re: Pay Too Much for everything

#154

Post by genwin » Thu, Jul 12, 2012, 11:33 PM UTC

sireat wrote: post #126

genwin wrote: post #83

Earlier quoted context omitted.

If you'll ever buy a car or house you should know their quality; you can rely on the judgment of others for that. For cars it's usually easy: Japanese or Hyundai. Car magazines rate their quality. For houses, it's generally ones from 1960 to 1980. An inspector can judge the quality of a house.

Interestingly enough Hyundai were quite horrible up to the late 1990s. "Cause you drove a Hyundai to get here tonight, I drove an eighty thousand dollar BMW" was quite an insult, when Glengarry Glen Ross came out.

True! I wouldn't have considered a Hyundai until the last few years. Now they're high value.

Re: Pay Too Much for everything

#155

Post by latch » Fri, Jul 13, 2012, 1:14 AM UTC

pbreit wrote: post #142

latch wrote: post #74

Earlier quoted context omitted.

The placebo effect appears to be massive, at least where it's been studied (wine, for example). I'm happy to admit that, as a general rule ( cough jaguar cough ), higher prices indicate better quality, I just don't think it translates into better value (again, as a general rule). Sure, highly functional things, like shoes and a bed, probably warrant paying more even though the value isn't proportional. Paying 50% mor…

Totally disagree about "jeans, kitchenware, cars, food, electronics". All of those benefit greatly by quality (and thus cost). Medecine is a special case since so much cost goes into development (sorry, I don't believe you on the bulk of it being marketing).

Apologies, as seen by GlaxoSmithKline's recent $3 billion fine for illegally bribing doctors, you are also paying their legal fees for unethical practices. (1)

Also, the industry spends more on lobbying than any other industry (2)

According to a study by York University, they spend twice as much on marketing as R&D (3).

(1) http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkli...

(2) http://www.usatoday.com/news/washington/2007-05-10-senators-...

(3) http://www.sciencedaily.com/releases/2008/01/080105140107.ht...

Re: Pay Too Much for everything

#156

Post by pbreit » Fri, Jul 13, 2012, 2:15 AM UTC

latch wrote: post #155

pbreit wrote: post #142

Earlier quoted context omitted.

Totally disagree about "jeans, kitchenware, cars, food, electronics". All of those benefit greatly by quality (and thus cost). Medecine is a special case since so much cost goes into development (sorry, I don't believe you on the bulk of it being marketing).

Apologies, as seen by GlaxoSmithKline's recent $3 billion fine for illegally bribing doctors, you are also paying their legal fees for unethical practices. (1) Also, the industry spends more on lobbying than any other industry (2) According to a study by York University, they spend twice as much on marketing as R&D (3). (1) http://www.guardian.co.uk/business/2012/jul/03/glaxosmithkli... (2) http://www.usatoday.com/ne…

I was replying to this "R&D costs are 1/100th of total cost, with marketing taking the lion's share" which I do believe is inaccurate.

Re: Pay Too Much for everything

#157

Post by mturmon » Fri, Jul 13, 2012, 3:14 AM UTC

typicalrunt wrote: post #97

I liked the article in general, but this got me: I usually eat at the same few restaurants all the time. They’re maybe 10% more expensive, usually locally owned, and the food doesn’t come out of a frozen pre-made bag before being tossed in the oven. I never tip less than 20%, and I’m not an asshole….at restaurants. I don't understand this thought process. Why not pay 100% tip then? Is the 20% number somehow magical a…

Tip well enough that your generosity will be noticed by the staff.

There are advantages to tipping at the 90-th percentile (not a 90% tip!), especially if you are a frequent customer. You will be remembered.

Note, "asshole" has nothing to do with it.

Re: Pay Too Much for everything

#158

Post by antonioevans » Fri, Jul 13, 2012, 3:59 AM UTC

beloch wrote: post #31

The idea in this article is sometimes true, but it completely fails to take into account the relentless march of technology. Some items, such as cell-phones or laptops, will be totally obsolete within 10 years no matter how finely made they are. Other items, such as guitars, will not be obsolete since the technology isn't changing quickly, if at all. There will be new digital guitars with funky synth modes every year…

Why do people say Apple Computers aren't able to be modified? Go on Amazon/Ebay. Find the screwdrivers. It's a computer not Fort Knox.

Re: Pay Too Much for everything

#159

Post by AjithAntony » Fri, Jul 13, 2012, 7:14 AM UTC

HeyLaughingBoy wrote: post #145

UnoriginalGuy wrote: post #22

The problem with this "buy for life" stuff is that how do you determine what is really a "buy for life" product rather than just an over-priced "brand?" For example, I could go out and buy a $200 pair of sunglasses but depending on where I buy them they can either be poor quality (e.g. fashion brands, sunglass hut, etc) or exceptional (e.g. fishing shops, sailing suppliers, workman-glasses, etc). You would expect rev…

You answered your own question: given a choice, if you can buy from the supplier that sells to industrial/commercial users, the quality will usually be better. e.g., I buy my T-Shirts from Tractor Supply. They are cheaper, much thicker and last longer than the ones I bought from American Apparel. Farmers are harder on clothing than the average urban dweller, I'm guessing. The tools I buy from McMaster-Carr or Fastena…

The lightweight fabric at American Apparel is a premium feature.

Re: Pay Too Much for everything

#160

Post by zurn » Fri, Jul 13, 2012, 11:19 AM UTC

suprgeek wrote: post #20

I think what the article is trying to say is "Buy the best quality that you can afford". Unfortunately the Author has completely conflated Quality with Price. Higher price != Better Quality (not always anyway)

That wouldn't really mean anything unless using "afford" in the absolute sense (eg. max out your credit next time you're buying shoes).