Struggling With Luxury: Time to Get Off the Merry-go-round?!

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Price desensitisation is probably the biggest danger in the luxury game. Much like a drug, I found myself becoming immune to price tags and justifying a $6K, $8K and even $10K bag by saying it’s the same as getting 2 or 3 “cheaper” US$2K bags and this one is an “investment” that will bring me purse peace. It also makes the $1K sneakers or $2K boots seem so much more palatable.

Having gone through this crazy merry go round for about 4 years now, personally I’m happy to get off. I can’t do ban island (failed it too many times) but I’m stopping the big ticket purchases now. Maybe the odd scarf or shoes but no more bags for the 12 months. If nothing else, it will help reset my pricing meter and make me more aware of my spending on high value items.
 
Price desensitisation is probably the biggest danger in the luxury game.

This! I remember just three years ago, I hemmed and hawed about buying a Furla bag on sale for $200. The few months ago, I had a hard time paying for $1k bags. Then suddenly I'm paying almost $2k for bags. And a while ago, I was seriously considering a $2.4k bag!

Anyway, I have decided am stopping at under $2k. And will always curate my closet so there are no redundant pieces and nothing that are just sitting there, unused. Also, this is my rule: any new purchase should be funded by selling old pieces. At least, until I am in a better financial situation.
 
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I think luxury is merely a matter of perspective. My grandparents who were very poor would have found a J.C. Penny coat to be luxurious. Women born in a pre-industrial, pre-manufacturing era would consider the costume jewelry in my dresser drawer to be the stuff of queens. If you frame things properly, if you look at your possessions like someone from a different time or culture or life experience would, anything you own can seem magical or luxurious or amazing. You don't have to spend money to see things that way. You just have to see the world a little differently.
 
I keep track of what’s getting worn. Not for cost-per-wear, but just to have an accurate idea of which bags are getting used and which aren’t. You’d think this would be obvious, but I’ve been doing it since January (with the intention of tracking for a full calendar year) and some of the results have been illuminating!
I imagine it is. I'm too lazy to do this. Once I moved bags to another room after I carried them. After awhile, the only bags that were left were obviously not my favorites. At this point, the bags that should be on my cut list just aren't worth selling, so I feel that I might as well keep them even if I only carry them rarely.
 
This! I remember just three years ago, I hemmed and hawed about buying a Furla bag on sale for $200. The few months ago, I had a hard time paying for $1k bags. Then suddenly I'm paying almost $2k for bags. And a while ago, I was seriously considering a $2.4k bag!

Anyway, I have decided am stopping at under $2k. And will always curate my closet so there are no redundant pieces and nothing that are just sitting there, unused. Also, this is my rule: any new purchase should be funded by selling old pieces. At least, until I am in a better financial situation.
I probably had this a bit, but I still balk at spending even $500! I may have a lot of bags but I don't have anything very expensive. It isn't so much that I wouldn't pay thousands for a bag. What would really bother me is trying to sell an expensive bag when I no longer wanted it. That would make me too nervous. Nearly everything I've sold is cheap enough that I wouldn't have a panic attack if it got lost in the mail. And the most I've ever lost on a bag I've sold is less than $200.
 
I'm having some trouble justifying the very existence of my bag collection that has pieces from contemporary to high end. It's been a slow process getting to this point - it's taken a long time and it now seems I'm getting tired of luxury and/or an endless range of bags and SLG that crowds two closets in our home. I only carry 1-2 bags and one wallet at a time so storing a large amount of money in the closet has started feeling ridiculous. Especially when the brands that I used to love have become greedy and nowadays cost way more than they used to and at the same the quality has taken a nose dive. Feels so stupid to sponsor brands that behave like that towards their loyal customers; they don't deserve my love anymore IMO.

We'll see if/when I get around to selling all the things that feel irrelevant and uninteresting at the moment. That would constitute the bulk of my collection and would leave me with around 5 bags and 3 wallets which is less than I've owned since I was 5 yrs old, I think. Right now, it seems only second hand Longchamp is something that makes me tick at some level (which isn't saying much, when practically nothing makes me tick anymore).

Having endless options and owning heaps of pretty things doesn't make you happy as a whole, apparently.
 
I think luxury pieces because of hype people are tricked into buying . Esp Chanel. Am a Dior lover and their quality is phenomenal and i buy very few dior items a year . But wen i look at my collection now i feel i hav wasted money buying stuff i hardly used,

To me these price increases are a way of telling me to stop/ slow down buying luxury items

Yep. Actually even if I can afford it, I feel the higher the price, the more I start to feel frankly stupid for buying.

And what people have observed regarding being desensitised to prices is so true. You start comparing against other luxury prices instead of against realistic everyday prices, and when previously you might have agonised over spending for a £250 bag, or a £500 bag, you’re suddenly weighing up a £2500 bag against a £5000 bag and thinking the £2500 one is economical. Psychologically, it gets quite literally out of proportion — by a factor of 10 or even more!

If it’s something I truly love and appreciate and will keep forever (and if I can afford it without adversely affecting the lifestyle and security of my family, and I can still afford to make a decent financial contribution to charities), it’s ok. Though I don’t delude myself that I NEED any of it. And the quality and style longevity must be there.

I mean, for some reason I just love the Peekaboos. Every time I look at or use one of my Peekaboos, I get a feeling of ridiculous appreciation and affection for them. (Red face here). But I can look at them and know that I would have loved them decades ago, and I will love them decades from now, and the quality is so fantastic that they will last me decades and I can give them to my daughter one day. I’m not even sure the concept of ‘luxury’ comes into it. I appreciate the quality, and I just like them a lot style-wise, they fit with me somehow. I don’t spend money on jewellery, I’m not really interested. We don’t go on multiple expensive holidays each year. I’m even considering another Peekaboo right now, though I cannot say I NEED it (a little concerned about what might happen to prices when the UK leaves Europe [emoji20] — sad for many reasons). The prices are high but I feel at least they’re not Hermès high, and Fendi doesn’t create that awful illusion of unobtainability that Hermès seems to cultivate. I feel that Hermès are playing their clients and I dislike that. Fendi seems to respect me as an anonymous customer; it’s grown up and straightforward. I don’t have to build up a ‘relationship’ and buy a lot of stuff to be offered something else — I would so much feel I was being exploited in that situation and I cannot bring myself to do it, even if I kind of like the Birkins. I won’t be buying one.

As for any other purchases, I think maybe I’ve done enough. I have only been buying this sort of thing for about three years, and honestly, when I look online or in shops now, there’s nothing much that makes me think I want or need it any more. It’s a good feeling! It makes me realise the spending I have done, which I was worried was turning into an expensive habit, was mostly reasonably well judged, and has more or less come to a natural end.

I’ll feel ok about getting the occasional special piece that really speaks to me.

I’m very aware of only spending on long-term propositions now because I got sucked into one or two trends — I will be selling some of this stuff because they don’t stand the test of time, however great the quality. I’m over the ‘fun’ stuff, the ‘clever’ stuff, and most of all the stuff that’s priced high just because they can. Chanel looks ridiculous now. Those recent RTW prices — I would feel so duped for succumbing. It feels disrespectful to the client, very greedy.
 
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So I’m thinking I’m getting off the luxury merry-go-round in the sense that it feels like there’s actually a natural limit to it anyway — so maybe it wasn’t so much a merry-go-round as a marathon with the odd bit of veering off course before getting back on track, and it has now finished for me.

One other observation I would make is that when I buy ‘luxury’ or quality and make sure I’m going for longevity, I avoid that even worse merry-go-round of cheap fast fashion/poor quality. All that disposable stuff people are buying in such quantity now, which my generation never did when we were younger. The sheer quantity of that stuff is incredibly shocking and mostly unnecessary, is often facilitated by extremely low-paid labour in poor conditions, and is often causing higher levels of environmental damage. We’re not talking about the availability of essentials for those who have little disposable income — that is a different matter. It’s the low-cost, high-volume, low quality stuff that is so worrying and much more wasteful than high-cost, low-volume, lasting quality, if you’re lucky enough to be able to afford it.
 
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I think luxury is merely a matter of perspective. My grandparents who were very poor would have found a J.C. Penny coat to be luxurious. Women born in a pre-industrial, pre-manufacturing era would consider the costume jewelry in my dresser drawer to be the stuff of queens. If you frame things properly, if you look at your possessions like someone from a different time or culture or life experience would, anything you own can seem magical or luxurious or amazing. You don't have to spend money to see things that way. You just have to see the world a little differently.
This is so true.

When my DH and I were looking for a wedding venue, we took a tour of an old Victorian mansion. They pointed out to us that the pinnacle of luxury was to have these machine engraved strike plates on doors. The kind of thing we could do in 30 seconds on brass today if we wanted to.
 
Price desensitisation is probably the biggest danger in the luxury game. Much like a drug, I found myself becoming immune to price tags and justifying a $6K, $8K and even $10K bag by saying it’s the same as getting 2 or 3 “cheaper” US$2K bags and this one is an “investment” that will bring me purse peace. It also makes the $1K sneakers or $2K boots seem so much more palatable.

Having gone through this crazy merry go round for about 4 years now, personally I’m happy to get off. I can’t do ban island (failed it too many times) but I’m stopping the big ticket purchases now. Maybe the odd scarf or shoes but no more bags for the 12 months. If nothing else, it will help reset my pricing meter and make me more aware of my spending on high value items.
I justified the merry-go-round by shopping sales. Last Call, etc. While I still think this is a relatively good approach, the spirit of the sale always caused me to overspend. Like Xmas sales coming up will be a challenge for me to manage. Like I probably didn't need to buy another TF fragrance, even though it was 20% off.

But then I started watching my parents, who didn't start saving until their 40s for retirement. They theoretically had enough money but they overspend and according to their accountant, they are 200k off target (because they bought a second home). This is my money model. So I started thinking....bag or retirement? Shoes or a student loan payment?
 
I like this thread a lot. It will mean something different to each person though.
Everyone will have a different opinion and that's okay.

I look at it a bit differently than some here. My Mom always says " less than 100 years ago we were being burned alive and forced to live in ghettos, do you know what our people would have done to be able to have this or live like this?" So I try to keep things in perspective because I do have that constant reminder!
 
I justified the merry-go-round by shopping sales. Last Call, etc. While I still think this is a relatively good approach, the spirit of the sale always caused me to overspend. Like Xmas sales coming up will be a challenge for me to manage. Like I probably didn't need to buy another TF fragrance, even though it was 20% off.

But then I started watching my parents, who didn't start saving until their 40s for retirement. They theoretically had enough money but they overspend and according to their accountant, they are 200k off target (because they bought a second home). This is my money model. So I started thinking....bag or retirement? Shoes or a student loan payment?
We've made sure our son started on retirement savings early. He has a nice nest egg already.

DH and I had IRAs fairly early and they grew nicely, until 2001 when they lost 80%. They've never gotten back to their previous value. So invested savings is still a gamble.
 
I think luxury is merely a matter of perspective. My grandparents who were very poor would have found a J.C. Penny coat to be luxurious. Women born in a pre-industrial, pre-manufacturing era would consider the costume jewelry in my dresser drawer to be the stuff of queens. If you frame things properly, if you look at your possessions like someone from a different time or culture or life experience would, anything you own can seem magical or luxurious or amazing. You don't have to spend money to see things that way. You just have to see the world a little differently.

This is so true.

When my DH and I were looking for a wedding venue, we took a tour of an old Victorian mansion. They pointed out to us that the pinnacle of luxury was to have these machine engraved strike plates on doors. The kind of thing we could do in 30 seconds on brass today if we wanted to.

Absolutely, and connected with this is the way ‘luxury’ is often used just to display wealth. Such an interesting subject. The people who had those strike plates, they may have wanted them because they were better-functioning, longer-lasting, aesthetically pleasing (a highly subjective matter into which so many factors feed, which can spark off a whole other conversation). But they may also have wanted them to make a statement about their wealth and social status, in a way which is pretty much outdated now, and where it is still practised, it is most often condemned (though of course we have entered the era of Kardashian-style ‘influencers’ and so on, so maybe it’s just moved into a different arena).

I can identify with the former reason (quality, function and aesthetic) but the latter leaves me cold, as I’m sure it does all of us here. The JC Penney coat would have been luxurious because it gave warmth and possibly quality that was hard to afford for BigPurseSue’s grandparents. That’s real luxury.

Another issue in ‘luxury’ is rarity (those strike plates were genuinely rare at that time, probably because the means of manufacture was new, expensive to set up, and not widespread) and while rarity can add to value if the object in question is of great quality, I find myself really bridling at artificially created rarity such as we see with brands like Hermès.

I only keep mentioning Hermès because it’s the one that the most extreme myth seems to surround. I don’t hate the products; I think lots of them are lovely. But the reality is that they could manufacture as many bags as they wanted, however carefully hand-crafted by experts they are, and they limit the quantity in order to feed the perception of rarity, and promote the profligate purchase of (slightly) less expensive items they produce by engendering the perception — a culture in which many of us collude — that they may reward the customer by ‘allowing’ them the opportunity to buy the glittering prize of a Kelly or Birkin at the end of it all, if the customer has shown adequate ‘appreciation’ of and ‘commitment’ to the brand. (And truth be told, there’s an awful lot of those bags out there, and not only the rarity but also the PERCEPTION of rarity is engineered).

These objects may very well be lovely in themselves — I’m certainly not saying they are not worth having or that nobody should buy them, or that anybody is a dupe for buying them — but the market is carefully engineered to maximise profit and a perception of exclusivity (used in the true sense that people are being excluded from it). We’re all dupes if we believe the hype, though. Fair enough, it’s a business, profit is acceptable; we all buy things we like, business makes the world go round, and the monetary value of anything is a product partly of what it cost to make and market, but at this level, it seems even more a product of what somebody is willing to pay for it.

I mean no disrespect at all to any Hermès or Chanel owner. I certainly have my weak spots. I succumb to Fendi; and all marketing, including that of Fendi, is manipulative. I aim to stay reasonably objective and weigh up the quality of what I’m buying and it’s value to me. I actually felt rather put off by some recent marketing which had models cavorting with their Peekaboos — which I love — as if they were actually in love with them, wearing those off-putting ‘I-exist-in-a-world-you-can-only-imagine’ expressions ;) Anybody else?

I can’t succumb to Hermès or Chanel because I would feel so much more manipulated and exploited, in the face of this engineered rarity and artificial culture of reverence. I can respect the skills and the work that go into making the products. But the brand seems to become something close to a religion in some people’s eyes, spoken of in hushed tones and with exaggerated respect. Who knows, I might suddenly realise a Birkin is exactly what I need and is worth the money to me. They are nice bags of great quality. If I can walk into an Hermès store and just buy one, or I wouldn’t mind a waiting list. But I would feel so duped if I let myself climb on that particular luxury merry-go-round of developing a ‘relationship’ with them and playing an artificially engineered game.
 
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I don't have the problem many of you do because I live in a small town where I almost never see most premium brands. So I'm not surrounded by the culture of luxury. There is no pressure to keep up with the Joneses, and I'm not constantly seeing IRL bags I covet. My exposure to luxury comes from tpf and traveling. It is much easier to stay off the merry-go-round when you aren't surrounded by people who are on it.
 
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