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What do wealthy people buy, that ordinary people know nothing about? (2015)
361–370 of 829 posts
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#362Earlier quoted context omitted.
It's really curious that something as personal to people as smartphones don't have a rich-person equivalent the same way cars do. What is the McLaren of iPhones?
There's gold plated / jewel encrusted versions of phones or graphics cards [0] but that's just making things look garish for the people that want to look rich. But as far as I know there's no 'bespoke' phone manufacturer on the same level as Swiss watches or hand-built cars. No real reason either; with a watch, any performance has peaked years ago so the only thing that remains is design. Phones are mostly functional…
It’s remarkable how every market where Apple makes itself at home basically has no real luxury bracket anymore.
Almost every visible accessory or piece of functional equipment has luxury models that may be only slightly functionally better (sometimes not even better, sometimes actually worse) but also charge massive margins.
Not so much with phones, tablets, or laptops. It’s as if the world has collectively decided that you simply can’t beat Apple, which astoundingly in the meantime completely ignores the luxury market. Even if you charged $50K+ per unit—I’m sure Samsung and every other maker would love to charge exorbitant prices for end-game devices—you’ll make a fool of yourself: iPhone will objectively be more premium, work smoother, have all the high-end apps, etc. There’s no choice but to tighten your belt and thin your margins to stay competitive.
I’m not sure how this (undoubtedly impressive) achievement makes me feel. Maybe it’s the feeling of finally being able to afford one, or the ability to say “it’s a cute expensive toy, but it’s objectively worse for X and Y reasons”, but there is something about the Leicas and Ducatis of the world.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#363You know how a person on 'average' income might sometimes browse retail sites as displacement activity, while waiting for something/someone or a side-quest etc?
Ultra-wealthy people also do that but they're trawling through Sothebys or Christies - eg: https://www.sothebys.com/en/buy/luxury/books-&-manuscripts/b...
They don't have time to read - say - a lengthy biography about a Civil War general but they can purchase their diary or letters - people who are interested in wealth preservation, especially across generations, are trained to disdain the ephemeral. They like primary documents and depending on their age/interests, cool stuff like first edition comic books or vintage niche Chanel clutch bags.
As impulsive or indulgent as it may seem - eg: I just saw a counterfeit version of Dante's Le Terze De Rime on there for $159,000 USD - the purchase are all investments and as such treated as a tax deductible by your team of accountants. If you purchase a bottle of Romanee St Vivant as an investment but (whoops) drink it - that $16,000 is a business loss. Or maybe a trust fund loss.
And once you start spending at a certain level on sites like those and others, there are extremely nice people who would like nothing more than to invite you to private showings, arrange a private briefing to bring you up to speed with whatever topic you'd like to learn more about or help you select the right gift with which to blow the mind of a business rival or someone you're courting.
I thought that reddit piece was weird. Why would the ultra-wealthy mess around with 'masstige' kitchenware appliances? They wouldn't even have a brand on their dishwasher - it would be commissioned by an architect or interior designer quietly maintained at regular intervals by an appliance engineer who has been either supplied-by your core op-secs team or thoroughly checked out by them etc etc.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#364Earlier quoted context omitted.
Worst experience I've ever had was with a Miele dishwashing machine at an AirBnB in the Netherlands. I like my Miele vacuum cleaner though
What happened to that then? ;) We bought a Miele dishwasher to replace a Neff which broke down after 10 yrs (probably 16 yrs worth of "official" usage) due to a silly design fault that caused it to leak. Thought a fairly basic model Miele worth a shot, as because it a stupid built-in, there's extra costs getting it installed, so longer it lasts the better. So far, it seems to clean to fairly similar standard to the N…
Microwave tech hasn't advanced anywhere beyond timer and power level. Everything else is just a gimmick.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#365Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#366Earlier quoted context omitted.
On a personal level I know several guys who are worth $10-30M, one who's worth probably $40M, and one who's worth around $700M, this is LNW. Not much in the Reddit reply checks out for me. It's true that the $700M guy socializes with "Senators/Congressmen/community leaders." He travels a lot, and comfortably, but has no ownership in a jet. He retired young-ish and no longer works so maybe that's why. He doesn't flash…
I was invited for coffee at a friend's friend. He seemed a pretty regular guy, very friendly: kids playing in the pool. Nothing out of the ordinary except as many house employees as adult guests (and house employees where calling guests by their name). I happened to know the artist Jeff Koons: not a big fan of the "inflated balloon dogs" but I do like his ballerinas. Well... Turns out the dude had one house destroyed…
> buying x times the exact same car
Triples is best.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#367> Your time is SOOOO valuable that you ration it. And that makes you lose connections with people.
Damn, that's me, and I am not even worth a million.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#368Earlier quoted context omitted.
> Price is 3-4 times higher but it lasts 5-10 times longer The problem is that if an Ikea furniture lasts 15 years then that's enough. People no longer need 50-100 years furniture, because nobody wants to inherit old stuff anymore. Life's circumstances change faster and buying quality often isn't worth it. Maybe a Miele dishwasher last twice as long at double the price. But it will become old after 10 years even so.
> People no longer need 50-100 years furniture, because nobody wants to inherit old stuff anymore. I'm going to challenge this assertion: did anyone, ever? Looking around in my parents' house (retirement age), there's no furniture from their parents (post-WW2). I don't remember whether my grandparents had any furniture of their parents in use either. I do recall going to the charity shops and finding older wooden fur…
> Looking around in my parents' house (retirement age), there's no furniture from their parents (post-WW2). I don't remember whether my grandparents had any furniture of their parents in use either.
My parents are both 70+, they have 3 big cabinets from their parents, made from solid wood. I’d not mind having them in the right place. They look and handle great, only the drawers could use some finetuning ;)
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#369Earlier quoted context omitted.
Worst experience I've ever had was with a Miele dishwashing machine at an AirBnB in the Netherlands. I like my Miele vacuum cleaner though
What happened to that then? ;) We bought a Miele dishwasher to replace a Neff which broke down after 10 yrs (probably 16 yrs worth of "official" usage) due to a silly design fault that caused it to leak. Thought a fairly basic model Miele worth a shot, as because it a stupid built-in, there's extra costs getting it installed, so longer it lasts the better. So far, it seems to clean to fairly similar standard to the N…
Put some cups of water surrounding the oven in multiple directions from its front (assume that leakage from the back is less likely and that unless you have metal walls, it won't reflect in your direction).
Measure their temperature and take note in your notebook. Put another cup away from the microwaves but in the same environment to serve as control. Measure its temp and put in a notebook
. Turn off any air-conditioning or fans in the kitchen, any sources of heat, you know the drill.
Turn on your microwave oven for a long cycle (10, 15 minutes) measure temperatures in 1 or 2 minutes interval.
Plot everything and compare against control.
Re: What do wealthy people buy, that ordinary people know nothing about? (2015)
#370You know how a person on 'average' income might sometimes browse retail sites as displacement activity, while waiting for something/someone or a side-quest etc? Ultra-wealthy people also do that but they're trawling through Sothebys or Christies - eg: https://www.sothebys.com/en/buy/luxury/books-&-manuscripts/b... They don't have time to read - say - a lengthy biography about a Civil War general but they can purchase…
> They wouldn't even have a brand on their dishwasher - it would be commissioned by an architect or interior designer quietly maintained at regular intervals by an appliance engineer
I'm not sure that I buy this. It's not simple to make a bespoke appliance like a dishwasher that's better than a very high end mass produced one. Where did you get the idea that this happens from?