Tuesday, February 9, 2010

The Value We Attach to Things

The value we attach to things differ.

A story I like that illustrates this is the story of black pearls.

In the mid-1970s there was no market for black pearls. People liked their pearls white or in lighter shades and there was no demand for black pearls. Hence, they were not considered valuable and you could not sell these pearls for very much.

One man who owned a source of black pearls was really keen to make more money from them.

He went to Harry Winston, a friend of his, and convinced him to display them in his famous store window on 5th Avenue in New York City with extremely high price tags attached. He also place ads in fancy magazines showing the strands of black pearls next to diamonds, emeralds, rubies, comparative references and gems that people attributed value to.

Soon, black pearls were worn by the rich and famous in New York and now, when we think of black pearls, we think of them as expensive and rare... rather than just odd-looking and irregular.

The value we attach to things differ.

Each of us attach different values to different things. Some people are happy to spend lots of money on the latest technology but are not willing to spend more money updating their wardrobe. Others might spend lots on a single designer bag, yet refuse to spend on a gourmet meals. Some might happily put in lots of money into renovating and decorating their homes, yet refuse to spend much on movies and books.

And the value that we attach to things change as we get older and as our circumstances change. I might be unwilling to spend a certain amount on a concert ticket alone.. but if The Husband wants to watch that concert, I'd be quite happy to buy two tickets. I might not like to spend any money at all on guided tours, but if my parents wants to go on a guided tour together, I'd happy pay for them.

The value that I attach to things have changed a lot since my days as a student - I now value family, comfort, friends and good food a lot more than I did as a student.

And as I grow older, I start to want to pamper myself occasionally with things that are just quite unnecessary.

Just occasionally though. Very occasionally.

1 comment:

petunialee said...

Oh what a reflective post! I like!

There was an error in this gadget
Blog Widget by LinkWithin