I was just skimming 'Dressing for Success' and the guy writes about how one should pay more than $6 for a tie but no more than $15. These were the prices in the 70s. I was just wondering what today's prices would be if we were to follow this premise? Of course, with some brands, their price does not mean quality. But, lets take shoes for example. A shoe that costs $50 won't be of high quality. And, if you pay more, lets use $100 as a number, then this shoe will last you more than 2X the cheaper shoe. But, at some point, the higher priced shoe while still better will start give you diminishing returns. You might be paying 6X the price of a lower priced shoe, but the quality might only be 2.5X better. What do you think is the minimum to pay for the basics so that you will get a quality item, and what do you think is the threshold so that at some point, the price can't justify the quality? It seems like Allen Edmonds are the shoes that are a good start for shoes. They are more expensive than shoes like Kenneth Cole, but much more superior and give you better value over the long run.
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8/26/04 at 2:52pm