Reply With QuoteOh not again....
https://www.economicshelp.org/blog/1.../veblen-goods/
Your thoughts?
Oh not again....
Good grief...
Yes...
You obviously have not been paying attention at the back...
Ok - sorry, my bad.
Oh man.
When you look long into an abyss, the abyss looks long into you.........
Where’s Cilla when you need him.
Uh...?
No. You posed the question so presumably you already have some thoughts on the matter. Share those thoughts here and perhaps then I’ll share mine with you and anyone else who feels inclined to contribute. Otherwise, I’ll just continue to sit here having pleasant thoughts about Lizzy Yarnold’s posterior.Originally Posted by Slamdoor
He’s never needed. He’s just here.
yes
no
Fair comment. I believe that some manufacturers exploit the idea to maximise their profit margin. There again I’ve got a more basic Rolex so fall into the same trap really. Exclusivity is king. The concept probably works better with audio or cars which can sound better or drive better with more cost. At the end of the day a watch can only tell the time whether it costs £5 or 5K. Hang on... why did I buy a Rolex. Must think it out again.
Last edited by Slamdoor; 17th February 2018 at 18:40.
I dread to think what price something like a ceramic Daytona could be pushed too before it had a negative effect on sales at current supply levels.
What ever you do, do not say his name three times
PS Isit like full moon or somefink? (Rhetorical)
Fas est ab hoste doceri
Mmmmmmm nice.
No - the illusion of exclusivity is king. Rolex sell around 1 million watches every year. BMW sell more 3-series than any other vehicle in that class.
That article is from last year, if you're that far behind you'll never complete the internet.
I can honestly say I`d never heard the term 'Veblen Goods' before it featured on this forum.........what a sheltered life I`ve led.
This.
In addition, I still don't know what it means.
And, I can't be bothered to look it up......
Glad you said that, nor had I, but having said that you could fit my entire vocabulary onto the back of a postage stamp :)
Sent from my [device_name] using TZ-UK mobile app
Obviously.
Depends - Richard Mille watches almost certainly qualify though!
5 minutes on the forum and already publishing a "moron list" of established members.
Keen to make an impression.
Obviously.
Me too - a far better way of spending a Saturday evening after a decent bottle of wine
Veblen, what a silly word with a silly meaning.
I am going to try use it in a sentence while at the pub and then blame the alcohol.
It’s a term used by the marketing knobheads.........normal folk have never heard of it!
Yet another “bowel of petunias”, moment (HHGTTG). Maybe the universe is rebalancing. Martyn.
I don't know about you, but after the huge price increases over the last 10 years, I have been spending less on watches. So I guess that means the answer is 'no'
Furthermore, the watch industry's reaction to the financial crisis was to increase prices and cut production to defend margins, suggesting that they expect demand to drop when prices go up, so again this suggests the answer is 'no'
Lastly a Veblen good is not a key economic concept but more of just a minor thought exercise in the field of economics. You're not exactly going to see it come up often in the real world, and obsessing over the term is probably going to generate more eye-rolls than serious interest.
I think current pricing of watches is often rather silly.
I prefer to stop there and wait for Huertecilla to start explaining if watches are Veblen goods.
The search function on this forum would undoubtedly help to find more on the topic.
"Not again" 🤤🤤
Sent from my [device_name] using TZ-UK mobile app
In fairness it's a real thing and those marketing people use it to great effect. All the same, the subject has been done to death...
It's a term used by economists and sociologists... anyone with a half-decent education has heard of it.
Just been discussing the Giffen paradox with a friend during lunch at KFC.
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