Dimensions of luxury culture
The first dimension concerns a person’s ability (knowledge) in perceiving the intrinsic value of a product such as material, design, structure, finishing quality, operating apparatus and function. use.
The second dimension shows that an item is said to be a luxury when others consider it expensive and/or exclusive, so-called socially perceived value of the item.
Many people buy a luxury watch for its perceived social value rather than its intrinsic value. Photo: Unsplash.
Of course, there are always private reviews for luxury watches. Many people buy watches to “enjoy” rather than “show off” every time they want to reward themselves, mark a milestone/anniversary or make a fortune for their children and grandchildren… In this aspect, we have add the exclusive value dimension and the common sense value.
Social perceived value
Watches chosen for their perceived social value are often able to convey messages of luxury, exclusivity, and status. They are made from the most famous watch brands in the world, the materials used to create the movement are also extremely high-class and polished such as platinum, diamond, 24K gold….
Socially perceived value comes from the general agreement of the community on the value of something and is measured by the community’s “familiarity” with the item. Diamonds are a perfect example of this.
Not only do diamonds have intrinsic value, but they have also become the wealthy, premium, luxury …… standard and always at the top of expectations (although there are many stones that are more expensive than diamonds). Sure, one may not know what an opal or an emerald looks like, but a diamond is always recognizable.
While a diamond watch is often the pinnacle of craftsmanship, it is still seen as a piece of pomp and circumstance rather than a fine piece of craftsmanship. Photo. Money Inc. This dimension of value is both complex and interesting. Because diamonds are recognized by the general public, it does not take a high level of education or sophistication to know that a diamond-encrusted watch is a luxury item. Thus, the high value of a diamond is inversely proportional to the understanding required of the admirer. The wearer of a diamond watch can understand the intrinsic value of the watch, or simply have the money, without taking much effort to understand its story. Although a diamond watch is often the pinnacle of craftsmanship, it is still seen as a piece of pomp and circumstance rather than a fine piece of craftsmanship. This is why businessmen and politicians often avoid wearing diamond watches; while those who take pride in their wealth enjoy wearing them.
Intrinsic value is appreciated based on the “degree of difficulty” in the manufacture of the watch. A watch with intricate decorations, a hand-made movement and a case made of rare materials will have a higher intrinsic value than other watches. Even if no one notices, its intrinsic value will not be lost.
Those who tend to like to “show off” their watches tend to be more interested in the perceived value in society. Meanwhile, those who are really passionate about high-end watches will be interested in capital value. They tend to choose watches that are not easily recognizable.
It’s a way to fine-tune the theme and show off the watch subtly and selectively. Now, “showing off” is no longer about showing buying power, but about finding people of the same level, with knowledge, to discuss watches. To this extent, the watch becomes an indicator of social status, proving the suitability of the owner for a “discerning audience”.
For the super rich, buying a luxury watch is a normal thing. In this regard, the exclusive value is the most striking. Exclusive value is also known as the value of exclusivity. Having an exclusive item allows the owner to exclude ownership from others.” Since I have it and you don’t, I am unique.”
Exclusive watches can be limited production models, sold at auctions, or once worn by a celebrity.
A common form of exclusive watch is one designed specifically for a particular person, such as the Grand Complication 97912 pocket watch designed by Patek Philippe for Stephen S. Palmer. Louis Cartier also designed the first square-faced watch, the Santos de Cartier, for his close friend, the aviator Alberto Santos-Dumont.
The value of common sense
Common sense value is a blend of socially perceived value and the intrinsic value of a luxury watch. It is the most respected value because it conveys the message that the owner is both a competent buyer and has the necessary knowledge and experience to evaluate the watch.
Knowledge and experience take time, effort and available resources to accumulate. In other words, it is a value determined by the owner.
Within the watch world, common sense exists only for those who have had the opportunity to interact with and use a large number of watches enough to choose the best product or to compare products. Together.
When a watch has a high self-worth and is worn/appraised by a reputable person, it will receive the highest social value. In this case, the “show-off” person helps to increase the value of the watch and also adds common sense value to themselves.
Value Deception While inherent values are unchangeable, socially perceived values can be changed and manipulated by third parties. This leads to the concept of “value deception”. Deception can take many forms. The first form is deception through the wearing of a fake watch. If not for ignorance, a person deliberately wears a fake watch in order to send a message to others that they can afford to buy luxury goods, thereby establishing virtual social value. A second form of deception is to wear a watch that you would not choose for yourself. The most obvious example of this is when a celebrity or KOL wears a watch not because they like it themselves, but only because they are paid to do so.
There’s nothing wrong with individuals using their reputation to endorse the value of a product. But if they don’t have the knowledge and experience to assess quality themselves, common sense here is hardly enough to satisfy those who actually care about the product.
A third form of cheating common sense is choosing to buy a real watch without the knowledge and experience to understand its intrinsic value, which depends entirely on the preferences of others.
The mindset of wanting to “show off” a watch in front of others is perfectly normal, especially when the watch was bought with real money that you earned, as long as you don’t fall into deceptive values. Lies.
When “showing off” your watch, identify the reasons you are proud of it. A watch can say a lot about the real you.