Saturday, August 31, 2013

Vanity drives us going for Rolex?

                               The latest Release Rolex GMT Master II Ref 116710 BLNR

Vanity drives us going for Rolex!?
Vanity can add significant value to a product, and this "Vanity factor" affects the prices of the cars we drive, the wine we drink, the shoes we wear, the pen we write with and of course the WATCH we wear!
To many people, the function of a watch is to tell time — and that's it.
If a watch that costs HKD$100,000 or more, is a terrible investment to this type of consumer.
"How much am I paying?" and "What am I getting for it?" are the two most important questions investors must ask themselves before making such a purchase.
The concept seems simple enough. However, personal views on functionality can greatly skew the value and demand of a product or investment.
A fair amount of research supports the existence the factor of vanity.
For instance, if you were to give two groups of people the same wine, but told one group that their wine was expensive, that group would automatically perceive the wine as tasting better.
But to others, a Rolex is a status symbol that is completely worth the cost. Than is more than Vanity factor for us to buy such a watch.
If you were to ask a random sample of Rolex users to rate their attractiveness, they would give themselves a higher average rating than would owners of any other watch. Likewise, a Rolex user is more likely to identify him as "high-maintenance."
Of course, owning a Rolex doesn't make you vain; it's just that a higher number of vanity-driven consumers have been drawn to the product as a result of its function as a status symbol.
Sham Shui Po Snob

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