“Luxury” buys that aren’t always a sound financial investment
Luxury goods have long been a big talking point — are they worth thousands of dollars or are they a scam? While some people justify expensive luxury purchases as sound investments because of their high-quality manufacturing and materials, some luxury goods are simply not worth it. From yachts to high-end perfume, here are eight “luxury” buys that aren’t a good financial investment.
First-class tickets
Whether it’s first-class airplane or train tickets, it’s not worth it. Since traveling only takes a couple of hours, spending hundreds or even thousands of dollars on first-class tickets doesn’t seem reasonable — you’re still going to arrive at the same destination as everyone else. Packing a neck pillow and walking down the aisle to stretch your legs is more than enough to travel.
Luxury luggage
When comparing high-end luggage to regular luggage, there really isn’t much of a difference. While luxury luggage brands like Rimowa use materials like aluminum, handy plastic polycarbonate luggage is sufficient enough to transport your belongings across the ocean. After all, what makes luxury luggage so expensive is simply its brand name.
Luxury graphic T-shirts
While luxury clothing boasts intricate stitching and premium material, a simple graphic T-shirt from a luxury brand shouldn’t be worth hundreds of dollars. Ordinary T-shirts feature the same type of sewing and style, which is why luxury graphic T-shirts aren’t a good financial investment; once again, you’re paying for the brand name.
Expensive skin care products
Some expensive skin care products justify their high price by featuring highly sought-after ingredients. But most expensive skin care products aren’t worth paying three digits for. Using drugstore skin care does the same work as expensive ones. Aside from its packaging and high-end name, purchasing a face wash or moisturizer from your local Target will be enough.
High-end perfume
Similarly, high-end perfume isn’t worth paying hundreds for. Many high-end perfumes feature exotic ingredients that are incredibly hard to come by, like orris, which comes from the roots of the iris flower, that really do make a big difference between drugstore perfume and expensive perfume. However, considering how most perfumes only last for a few hours, paying for simpler ingredients makes it a better purchase than expensive ones.
High-end watches
As with high-end perfumes, the intricate design and manufacturing of high-end watches aren’t enough to justify paying tens of thousands of dollars. Whether it’s a $70 or a $7,000 watch, both tell you the exact same time of day. Unless you’re a true watch enthusiast who can appreciate high-end watch manufacturing, there is no need to purchase watches worth thousands of dollars.
Yachts
Owning a yacht is probably one of the few luxury purchases you should steer away from. The average cost of a mini, used yacht is $60,000, and that’s not even counting other factors. In addition to maintenance costs, docking and mooring fees and insurance, the price of owning a yacht will skyrocket. Instead, renting a simple boat or taking a boat ride will be enough to enjoy the ocean views.
High-end makeup
High-end makeup prices come less from the ingredients themselves and more from the name. With more and more celebrities starting their own makeup line, consumers are purchasing high-end makeup simply because it’s Lady GaGa or Selena Gomez’s brand. Purchasing drugstore makeup from your local Target is not only more efficient, but better for your wallet.
Wrap Up
Even if you can afford these luxury goods, they’re not sound financial investments. After all, you’re paying more money for a brand’s name. At the end of the day, whether you’re using a $200 or $2,000 luggage, both do the same thing in carrying your belongings properly.
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