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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)

#431

Post by alexey-salmin »

Loic wrote: post #426
em500 wrote: post #288

Earlier quoted context omitted.

> 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. Don't believe the hype. I got an apartment full with Miele kitchen equipment (from the previous owner, but less than 10 years old). They're nothing special, and I got a lot more random errors on the oven ("please contact service", tried that once, they were as clueless a…

We are all Miele at home and for the next renewal, I will go to Bosch/Siemens. Too many small failures here and there (less than 8 year old). I was sincerely surprised because 20 years ago, Miele was the gold standard (at least in Germany). So, I agree with you.

Well see: by the time I learned about Miele it's already too late!

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

#432

Post by baq »

ponector wrote: post #348
alexey-salmin wrote: post #176

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…

Next stage is to realize solid wood is better than veneer wood. Also miele has too much marketing hype. Want the ultimate appliances? Buy professional equipment. Like washing machine that are used in hotels.

Industrial dishwashers use different detergents and operate at a much higher temperatures. Most dishes don't like either. Not to mention if you're in the US you probably want three phase power.

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

#433

Post by bluGill »

alexey-salmin wrote: post #423
JKCalhoun wrote: post #388

Earlier quoted context omitted.

The referenced reply covers several tiers of wealth and, to be sure, can be simplified to: as you move up in wealth so to does your access to real estate, luxury and political power. But your comment on Meile, nice kitchen cabinets, sounds like you're looking only for what the next tier above you is enjoying. (And go Bosch for the dishwasher, BTW.)

> But your comment on Meile, nice kitchen cabinets, sounds like you're looking only for what the next tier above you is enjoying. No, not really. These are examples of things I know from N+1 level. I'm curious to hear about N+2, N+3 and so on. Some of the points shared in this thread fit nicely, like "buying identical cars in locations you visit often". Or something like "don't by 488, find a used 458 instead -- it's…

A lot of things aimed at the middle class are better than what is aimed at the rich. There are not enough rich people pay engineers and so you end up with a $30,000 appliance that has the same features as the $1000 version and is lower quality because the few people who can afford to spend that much isn't enough to work out all the over time, while the lower priced models they release a limited run and then watch to see what breaks and fixes that....

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

#434

Post by rsynnott »

oezi wrote: post #282
alexey-salmin wrote: post #176

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…

> 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.

> Maybe a Miele dishwasher last twice as long at double the price. But it will become old after 10 years even so.

It... won't support the new dishes that come out in the 2030s?

Like, other than energy efficiency (and this is basically already into diminishing returns for appliances like dishwashers), what must-have progress are you expecting?

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

#435

Post by humanpotato »

TacticalCoder wrote: post #343
safety1st wrote: post #248

Earlier 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…

Steve Jobs did this, he got a new car every 6 months yet for years only drove a 911, then an MB SL55. Why have to learn a new car when you like what you drive?

https://www.autoweek.com/car-life/but-wait-theres-more/a1704...

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

#436

Post by d--b »

sellmesoap wrote: post #323
d--b wrote: post #295

Earlier quoted context omitted.

There are pros and cons for "luxury" items. Sometimes they're overpriced (Miele is), sometimes they're expensive to maintain (try get a stain out of marble), sometimes they're not durable (think of cashmere sweaters). There is no secret sauce that tells you whether the price of something you buy is a proxy for its qualities. And when you buy something expensive, you're kind of pissed when it breaks. That's why many w…

As a person who's installed quartz countertops for a living, I'd shy away from IKEA kitchens. I agree with your point, but I'd take exception to the general quality of their cabinets in Canada at least.

Idk, I've seen 40-year-old Ikea cabinets being totally fine (in France).

Nowadays, the trend is that people buy the cabinet frames from Ikea, and then buy the doors, handles, and bottom support from someone else who makes more durable ones.

The thing is that with Ikea, I kind of know what I get. From a custom kitchen cabinet maker, I could get something that lasts a lifetime, or something that wears quickly.

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

#437

Post by bluGill »

Cthulhu_ wrote: post #314
alexey-salmin wrote: post #176

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…

> Similarly it took me a long time to realize just how much better the veneer wood furniture and doors are compared to laminated chipwood. Price is 3-4 times higher but it lasts 5-10 times longer and is much more pleasant to use. Unfortunately you need years to notice such long-term differences, unless someone tells you. Isn't this also down to age? That is, stuff like that built 100 years ago is - in my head - bette…

We still know how to make the things that last. Modern engineering can do better than the 100 year old things. However we also know how to make things much worse. They couldn't make chipwood 100 years ago.

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

#438

Post by toyg »

TacticalCoder wrote: post #343
safety1st wrote: post #248

Earlier 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…

I would absolutely do that. Having to relearn instrumentation and optionals, how the car handles, dealing with its size, etc etc, is an absolute ballache. If you're not into cars, there is no novelty in having to drive two or three different cars just because you want to be near the sea this week and near the city next week.

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

#439

Post by bluGill »

baq wrote: post #432
ponector wrote: post #348

Earlier quoted context omitted.

Next stage is to realize solid wood is better than veneer wood. Also miele has too much marketing hype. Want the ultimate appliances? Buy professional equipment. Like washing machine that are used in hotels.

Industrial dishwashers use different detergents and operate at a much higher temperatures. Most dishes don't like either. Not to mention if you're in the US you probably want three phase power.

> Industrial dishwashers

Should be called dish sterilizers. They won't get dirt off - in industrial kitchens everything is rinsed first and then put in.

Home dishwashers get just as hot as the industrial versions (if you turn on those cycles - might not be allowed by modern code, but older ones do), and use harsher chemicals because they are expected to get clean after food that has dried on for a few days.

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

#440

Post by resource_waste »

sublinear wrote: post #400

I'm gonna go out on a limb here and say "being rich" is not a personality or set of preferences. Lavish spending is still seen as pointlessly insecure by anyone on any budget. Many things are good enough for anyone. Relevant Andy Warhol quote: "Sometimes you fantasize that people who are really up there and rich and living it up have something you don’t have, that their things must be better than your things because…

>Lavish spending is still seen as pointlessly insecure by anyone on any budget.

I seen and lived this until I got my wake up call.

I was regular upper middle class, I would laugh at people who thought I was poor for having an Android because I could easily afford a $1000 iphone, I just didnt want it.

Then I got into philosophy and inevitably Stoicism, where I found happiness within.

Then I read too much philosophy and realized the promises of such ethical philosophy were harmful to my own well-being. I went full Nietzsche and realized that spending money was a demonstration of power. As Thomas Hobbes says: 'Fame makes more fame, power makes more power.'

Thus, pointless lavish spending does have a point, its to demonstrate power, which grows power.

I genuinely feel like 30+ years of my life I was tricked into a religion of modesty against my own interests. Meanwhile, the people I mocked, rappers/rich people/etc... had the right idea. Or at least right in my current set of Values.

(And if you disagree with my values, prove I'm wrong, best of luck, there is nothing backing pure reason, and if you want to be an empiricist, we have peacocking)

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