5 Reasons to Invest in Luxury Goods

5 Reasons to Invest in Luxury Goods

Nowadays, cheap goods are abundant. You can walk around the supermarket and pick up dupes of your favourite makeup and skincare products. You can find more affordable versions of the perfume that you love. There are budget electronics brands and cheap copies of designer clothes and goods. Many of these items are of decent quality, and some even compare to the real thing.

Yet, we continue to buy luxury. Despite the far cheaper alternatives on the market, luxury brands still thrive, and there’s certainly still a market for more expensive products. It’s not just the wealthy either. People with money in the bank might buy luxury goods and expensive brands without giving it any thought, but even those on a much tighter budget will often save up until they can afford the more expensive version of the product that they are looking for.

Of course, an element of this desire to own expensive things is purely psychological. We think owning branded goods and designer clothes makes us better. We feel more confident. We’re more likely to stand up for ourselves or to take risks. We think that the things that we own reflect who we are and help to build our place in society. We like to own nice things, in part, because it makes us feel nice.

But psychology and self-esteem aren’t the only reasons to buy luxury goods, and there’s certainly an argument to be made that luxury is sometimes (although not always, don’t rule out a dupe before you’ve tried it!) well worth the inflated price tag. Here’s a look at some of the reasons you should buy luxury.

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Luxury Goods Can Last Much Longer

It’s important to understand that expensive doesn’t always mean luxury. Nor does it always mean high-quality. Sometimes, you pay a lot for a designer brand name, but the quality is low, the product doesn’t feel luxurious, and really, it’s poor value for money.

When you do find true luxury, things are very different. Genuine luxury products which are made by the best producers from the finest materials, typically last for far longer than products which are poorly made from cheap, low-quality materials.

Higher-Quality Items Cost Less in Repairs

Luxury products are designed to last, and so are less likely to need frequent repairs throughout your ownership.

Another advantage of luxury though is that repairs are often possible. When you buy much cheaper goods, there might not be trained repairs people, and you may not be able to buy specifically made spare parts.

You Only Need One

When we buy cheap, we buy lots. We might buy 20 pairs of cheap trainers, instead of one high-quality pair. We might have 20 bags, instead of one designer leather tote. We do this in part because cheaper goods don’t last as long, and also because more affordable goods rarely have a timeless design that works with everything. But also, because they cost less, so we can afford to have more.

This creates a false economy, uses more space at home, and is terrible for the environment. Buying one, high-quality piece is far more sustainable, and it can make your life easier.

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Luxury is Impressive

Let’s face it. We all like to impress our friends and family. We like people to ask where we’ve bought something or to compliment us on our taste. We enjoy having something that’s the best and makes people jealous.

Luxury brands don’t panda to trends, which means that their products are always elegant, and always impressive.

Some Luxury Goods Increase in Value Over Time

It’s fair to say that not all costly goods gain value over time. No matter how much you spend on a TV, as soon as you’ve turned it on, its value will start to decrease, and once it stops working, it’s worth nothing. But, buying a Rolex Daytona as a safe investment is an excellent idea.

Quality watches like Rolexes typically grow in value over time, even if they are well-loved. These timeless watches are an investment and will one day be something that you can leave behind to your children, or, sell if you need the money.

Even if you were to buy a used Rolex from CHRONEXT, you’d be making a fantastic investment. A certified CHRONEXT watchmaker inspects every watch to ensure they are in good working order and worthy of your investment. So, the value of your watch is likely to continue to grow over time.

When you buy luxury, you don’t just purchase a product that you will love. You buy an investment piece, which could stay in your family for years to come, giving your children, and perhaps even there are options and greater financial security.

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We buy luxury because we trust it. We’re impressed, and we know other people will be. We often stick to brands that we know and are happy to pay more for the quality that they offer.

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