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12.21

The ‘Ten Most Wanted’ List … What would YOU pay for these luxuries?

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Nothing but the best.

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Nothing but the best.

How much would you pay for a pair of jeans?  Does $11,300 for a pair of Earnest Sewn and Van Cleef and Arpels Alhambra jeans sound reasonable?

Forbes has found the World’s Most Outrageously priced items.   When given as a gift, these items convey a message of caring and love.  When shown in a home, they send a message of prestige.  A message of belonging to an exclusive and elite group.

The new Volkswagon Bugatti Veyron has a price tag of $1.8 Million.   What you are buying?  Performance, function and a perception of quality.  And the only production car with more than 1000 horsepower. Extreme pick-up.  A very unique product.

How about a burial plot overlooking the Pacific?  In Santa Barbara, this exclusive location for a couple to have eternal rest is priced at $83,000.

In San Francisco, you can find a ‘Grande Luxe’ facial for $750.00.  This comes with ‘caviar eye treatment’ and ‘Diamond Peel microdermabrasion’.

BlingH20 sells for $40 a bottle.  Sold at the MTV Music Awards and the Emmy’s, this Tennessee water was made famous by Kevin G. Boyd,  producer of the The Jamie Foxx Show and Girlfriends.   What makes it different?  It’s exclusivity.  

There is a theory that the more that people have access to a product, the less value it holds.   The ‘exclusivity’ of that product allows the user to feel elite, or part of an exclusive group.  Nintendo Wii capitalized on this theory.   The lack of availability drove prices of the Wii up to where people were paying more than twice retail value to purchase this ‘must-have’ product.

This is emotion-based pricing.  The art of Luxury Pricing.

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