What Money Buys.

[LabelKing]

I saw this featured on my Yahoo page: "Indeed, it would take a curious psychological composition to comprehend spending $147,000 a year on watches, as the jet set do. Or $117,000 on clothes. Or a whopping $248,000 a year on jewelry. These people need serious help with their...finances. And that is partially why Grove and Prince conducted the survey -- as a note to advisers who might be able to help people with complex money issues." $248,000 isn't really a "whopping" amount for jewelry nor is $147,000 for a watch, and I'm sure we can agree on the clothing expenses. Kiton bespoke, perhaps?

 

[Toiletduck]

OH no....thats why WE ALL need serious help with our finances...

 

[LabelKing]

I think they're jealous because of our clothes.

 

[luk-cha]

money can not buy taste and style unfortuatly!

 

[Mark_Y]

Originally Posted by luk-cha

money can not buy taste and style unfortuatly!

But it can buy an education, where you can learn to spell.

 

[Tokyo Slim]

$248,000 is ten years of my gross taxable income.

 

[kronik]

Originally Posted by LabelKing

$248,000 isn't really a "whopping" amount for jewelry nor is $147,000 for a watch, and I'm sure we can agree on the clothing expenses. Kiton bespoke, perhaps?

I'd love some of what you're having.

You know one that spends that much on jewelry probably buys a decent amount of clothes / watches as well.

Let's put the person at a generous 300K. How in the blue hell, is this not a lot of money?

 

[LabelKing]

Originally Posted by kronik

I'd love some of what you're having.

You know one that spends that much on jewelry probably buys a decent amount of clothes / watches as well.

Let's put the person at a generous 300K. How in the blue hell, is this not a lot of money?

Well, the article seems to imply a tone of shock in referring to $248,000 as a whopping amount for jewelry when you tend to see jewelry--arguably one of the most valuable tangible commodities-- sell for much more higher prices at auction.

And I'm sure some of the other watch enthusiasts can chime in on watch prices.

 

[luk-cha]

Originally Posted by Mark_Y

But it can buy an education, where you can learn to spell.

tmd

what do i need an education for?? schools dont teach you to spell anyway! but it does not stop me from speaking 3 languages. so what the point

 

[Toiletduck]

I think, as I earn more money, I will spend a heckuvalot more money on clothes....I'm too materialistic for my own good...BUT DAMN IT FEELS GOOD

 

[Toiletduck]

Originally Posted by luk-cha

tmd

what do i need an education for?? schools dont teach you to spell anyway! but it does not stop me from speaking 3 languages. so what the point

I thought u were a local hong kong dude at first. But ur like...a white boy

 

[stach]

Uh oh...

 

[edmorel]

Originally Posted by LabelKing

Well, the article seems to imply a tone of shock in referring to $248,000 as a whopping amount for jewelry when you tend to see jewelry--arguably one of the most valuable tangible commodities-- sell for much more higher prices at auction.

And I'm sure some of the other watch enthusiasts can chime in on watch prices.

I agree with LK, this are not "shocking" amounts of money for the items in question, especially in regards to the "jet set". I am not saying that this is not a lot of money, just not a lot of money to a lot of people. At the real high end of watchmaking, $147K barely gets you in the door (for 1 timepiece with complications). On thepurists a few years back, a guy went on vacation to Switzerland, stopped by Girard Perregaux's manufacturing facilities, fell in love with a rose gold 3 bridges tourbillon and walked out $375,000 poorer and he is not the exception on that site. One of the guys on this forum just took delivery of an F430, have you seen the price tag on that? If you have a high 7-10 figure income, $248k on clothes is not a whole lot.

 

[rajesh06]

Originally Posted by edmorel

I am not saying that this is not a lot of money, just not a lot of money to a lot of people.

I am hoping you meant "not a lot of money to some people"

I would hate to think that there were a lot of people that could afford this kind of expenditure. I thought I read somehwhere that there are around 8,000 billionaires in the world. Assuming you need to have a net worth of $10 million or more to spend $300K a year on these things.

 

[aybojs]

I just find it hilarious to see the idea of spending of several hundred grand a year on frivolous expenses being brushed off as trivial by peanut gallery posters who probably don't even make a fifth of that before taxes and costs of such boorishly inelegant and pedestrian items as "food" or "housing."