We try to avoid fashion as much as we can. And so should you.
Fashion is wasteful.
It’s a waste of money, because things will be out of fashion before you manage to recoup their cost. Plus, they will be worthless should you try to sell them onwards.
It’s a waste of space — your wardrobe is cluttered with items you no longer enjoy wearing.
It’s a waste of resources.
This is why we encourage you to develop an eye for long-lasting trends and knowing what is timeless.
There’s an easy way to spot a timeless item: it’s never on sale, never discounted.
If you want to save money, you should AVOID sales. We know, it might sound paradoxical. But think about it.
Items on sale didn’t meet any buyers at full price. No-one thought it was worth it’s full price.
So, the market price for that purple shirt is not $100 like it’s price tag suggests. Sure, the equivalent white shirt might sell for $100, but not the purple one.
If no-one buys it for $80. It’s market price isn’t even $80. So the seller has to discount it even more.
In the end, if you buy this purple shirt for $50, don’t think you’re getting a good deal. Don’t think that you’re saving 50%. You’re just buying it for the market price.
It bet you feel useless at this point. We all wish we could be smarter than the rest, and beat the market. We know the feeling. We have it too.
The truth is, you’re smart. we are smart. We all have our strong suit. However, trying to be smarter than the market is just a losing game. You just need to pick your battles.
Take yesterday, July 1st. After years of thinking, we finally decided to buy that luxury watch for the wife’s birthday. We go to the watchmaker’s website to select the model.
We then call the shop in Geneva to ask for their bank details. The person on the phone gives us a quote that’s $220 over the online price. The person explains all their prices have been raised, the same day, July 1st. “The website is just being updated as we speak”.
What were the odds we chose that day to buy?
$220 isn’t a huge difference. But it just makes us feel dumb to be one day late. The product is identical. I’m just paying more for the same product because we didn’t know how it works. Strange, since we know a great deal about watches.
It just proves it’s impossible to know everything. You just need to accept that the market is too complex for our small brain.
Next time, we’ll give you more tips to buy a pair of shoes you’ll want to wear all your life.