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What do wealthy people buy, that ordinary people know nothing about? (2015)

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Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#251

The referenced reply is dull. It's very pretentious but just reiterates common knowledge, it doesn't convey any useful information. For example I wish someone told me about the existence of Miele kitchen equipment before I accidentally rented an apartment of a well-to-do woman. She renovated it for herself but then rented out when circumstances changed. Similarly it took me a long time to realize just how much better…

> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…

Hum, that's fair points but don't contradicts OP's arguments:

1. OP finds it "much more pleasant to use" which I believe includes the aesthetic side. "your modern appartement" is your take, but is it? and how old modern? There's an universe of different styles that have been implemented in the past, in a multi dimensional sense: it may be influenced by the state of the art of that time (available tools, wood...), the vogue (not necessarily correlated with state of the art) and the context (unique fancy piece for someone wealthy that paid for, unique simple piece for your family, small series by a semi industrial workshop).

2. True, however your old chipwood furniture may not be newish enough for the next householder so A. he/you needs to ditch it B. buy a new one. With a quality furniture you often can re-sell it at almost the same price you bought it, there's no devaluation but only a seller commission if you don't want to bother.

3. I have in front of me a drawer that was build by the gran-gran-gran-pa (yes!) of my wife and... drawers are drawers. Same for stools, bed or tables. I understand your point as there's usages that are lost like furniture-like-clock but some others weird stuff still come back every time because they actually are clever [0]

4. I'm not sure what you're talking about: integrated kitchen (and so) are made to fill a certain room, not the wooden furniture I'm familiar with that you can literally place where you want. New place and not enough space ? Sell it (the the new owner or someone else) and buy another one that fits better. You hardly sell a cheapwood furniture. Moreover, moving to new places have other drawbacks to deal with that you take into account when making the decision. I'm not arguing you sloudn't move, but it's a process that isn't always trivial. For exemple many US residents won't be able to bring their tank-car aboard for legal and/or practical reasons. Or their digged swimming pool. Or whatever if they move to inner Tokyo.

TV => The image quality is wined by the news devices image, however ss you mention "expensive things" I'd like to point out a B&W tv is probably way cheaper and robust that and the 4K OLED one. But there's room for choices in-between, and I a agree the argumentation works better with furniture than electronics.

CAT scratch => That's the beauty of the made-to-last furniture: Wood ? sand it, a bit of varnish and you're done. Fabric ? tear off the piece and nail a new one. They're not museum pieces but day-to-day home helpers.

[0] https://fr.wikipedia.org/wiki/Confident_(siège)

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#252

The referenced reply is dull. It's very pretentious but just reiterates common knowledge, it doesn't convey any useful information. For example I wish someone told me about the existence of Miele kitchen equipment before I accidentally rented an apartment of a well-to-do woman. She renovated it for herself but then rented out when circumstances changed. Similarly it took me a long time to realize just how much better…

> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…

People have different tastes. There’s nothing weird about that at all.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#253

Earlier quoted context omitted.

Buying "things" really is the level 0 of wealth. What matters is that you don't have to sell your time for money, that alone changes your entire existence. Then you have access to better healthcare, education, seeing your kids grow, &c. That's why a lot of poor people who unlock large amount of money go broke quite fast, they still think like poor people

Time is indeed a very major thing, but it’s more accessible than most realise - I am only marginally wealthy, high 7/low 8 figures, and that’s ample for me to not need to work for a living and live very comfortably. Frankly, once you have even $1M in free liquid capital, you are in the endgame, as money makes money far more efficiently than labour. I spend perhaps 20 hours a year farting around with our finances, pla…

> In fact, one I know regularly gets weird looks because he’ll be in some elite country club in his coffee-stained slacks and threadbare jumper - but there’s the rub - he doesn’t care. The guy who looks rich is probably up to his eyeballs in debt.

This is so strangely true.

I arranged a dad's dinner once, and we had a drug dealer there. Stereotypical hard man, wife dressed in branded clothes, fancy car, very obviously not in the line of business that he pretended. Trying extremely hard to flash how he used the private airport.

Seated with him was an actual billionaire, one whose family made their money a while back so you wouldn't know if you hadn't come across it before, like me. This guy just behaved like a normal middle class dad. Dressed like everyone else, ordinary SUV. No flashy moves.

Other two I know in that class are also just ordinary. No supercar, just a Merc or upper end car. They send their kids to private schools that ordinary top 5% people can afford, but no big arm movements.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#255

Earlier quoted context omitted.

The best interiors feel lived in but not stuffy. A few old pieces of furniture can help achieve that. Part of the skill of interior design is making these pieces work together in new ways. You don’t want your home to feel like an ikea catalog surely!?

> You don’t want your home to feel like an ikea catalog surely!? I do. Now what.

You go to IKEA!

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#256

Earlier quoted context omitted.

> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…

The best interiors feel lived in but not stuffy. A few old pieces of furniture can help achieve that. Part of the skill of interior design is making these pieces work together in new ways. You don’t want your home to feel like an ikea catalog surely!?

> You don’t want your home to feel like an ikea catalog surely!?

Who wouldn't? The people that arranged the furniture in those renders have a much better idea of interior design than I do.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#257

Earlier quoted context omitted.

> but it lasts 5-10 times longer I find it such a weird argument. Ok, your furniture from 1900 is still doing great, fantastic. The problems are: 1. Your great-grandfather had a different sense of esthetics, so shit just didn't fit your modern apartment. 2. You moved to a different country, and shipping fees of the furniture were ten times the cost of brand-new chipwood furniture (literally). 3. The furniture was des…

The best interiors feel lived in but not stuffy. A few old pieces of furniture can help achieve that. Part of the skill of interior design is making these pieces work together in new ways. You don’t want your home to feel like an ikea catalog surely!?

Not sure why the fixation with Ikea, they provide decent value at given price point (as in better than competition, but still within their cost band).

Anyway one prime example I can see - we have rather bigger kitchen, and storage is its prime function. Anything below waist needs to have pullout drawers, its supremely more practical and simply more efficient for storage. You don't need to go on your knees every time you need something deeper in bottom one. For older folks this is an absolute must. Good luck finding any older kitchen that has that. Same for any drawers ie for clothing.

And there are much better modern tricks than just this very basic one.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#258

You were a fast collegiate-level runner, became a wealthy financial adviser, who now has three sons who are doing well in high school long distance running. What do you do? You convince one of your old running buddies, who now coaches elite runners, to coach your son. The son sets the national high school indoor record for the 800m. Son decides to go pro after graduating high school. Then Covid19 hits. Access to outd…

Is there any scenario where a pro runner can gross $4M in lifetime running earnings?

absolutely, but let's just say the distribution is a bit skewed to making nothing from pro running ventures. It has an extremely bad effort to potential reward ratio.

By putting in the same level of extreme effort into any classicaly well paying profession you would highly likely become very rich and successful.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#259

I really like this post since it shows how very little there is for the wealthy to buy other than status goods. The life of the rich, other than status, is very much like the life of upper middle class. The same phones, the same digital entertainment, the same appliances in their homes. We have very few items for the rich to buy. Honestly, it is a problem it breaks incentives and it drives the rich more towards statu…

The incentives for the ultra-rich are screwed up. I remember a few years ago Mark Zuckerberg announced that he was donating 99% to charity. The internet got very angry about it, based on flimsy reasoning: https://qz.com/564805/5-criticisms-of-billionaire-mega-phila... Bill Gates has saved millions of lives through his philanthropy, and the internet is full of malicious rumors about him. Other billionaires who do far…

This is a disingenuous post.

Philanthropy is often used a strategy to lobby politicians and drive policy that benefits other investments while avoiding most taxes.

Nobody voted people like Bill Gates to have such a massive influence over media and institutions via "donations".

If you knew anything about NGOs and politics you wouldn't simply go for "They're asking for or donating money so they're obviously awesome, their intentions are great and it's a net positive".

Calling skepticism reflective is like saying that if you think your company doesn't have your best interest at heart like it says you're being paranoid.

Re: What do wealthy people buy, that ordinary people know nothing about? (2015)

#260
post #169

Earlier quoted context omitted.

Sometimes the question is really asking something else. In this case, it might seem to be "what trick can I use that ultra-wealthy use?" or "how can I be prosperous on a budnget" but it really is "what is it like to be rich?"

Yeah but I really wanted to know what rich people buy that I don't know about. The top answer - while vaguely interesting - didn't actually tell me anything I didn't already know. I think the conclusion is probably that they don't buy anything we don't know about.

That's easy - experiences. This is what many rich pay their last dime for. You can get much better experiences than they pay for, for much much much less.

Going for an exotic tropical beach location? Well they normally stay in sterile 5* bubble which is boring beyond belief and very unauthentic. You can go ie to Seychelles or Bali, live with locals in cheapish airbnbs, swim on same beaches or go to same restaurants they do, if you want, or even better eat with locals too. You can dive on same spots, kite surf on same spots etc. You will remember such vacation much more than they will do.

Or another typical one - skiing holidays. You can go ie to Verbier or Chamonix and ski next to kings, princes or industry moguls on same slopes they do, use same lifts, but you can ie go of piste for some extra fun. Sure afterwards you can only go to public spa but that may be better equipped than their private one. Or you can paraglide over them (on your own, not with paid instructor). And so on and on...

I know you can outmatch them only on specific aspects of those experiences, but that part is rather easy. Rich play their game of life in general very safely, so you can have way cooler things if you take some risks, and invest time into learning how to get best out of travels and adventures. Rich generally pay others to figure these out for them, and then of course such service is not well tailored to specific personality and expectations as much.

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