Mr. Credit Card from Ask Mr. Credit Card emailed me a question. My answer is pasted below.
I just wanted to hi to another fellow pf blogger. I found your site
through the latest pf carnival and I wanted to ask your opinion about
I just wanted to hi to another fellow pf blogger. I found your site through the latest pf carnival and I wanted to ask your opinion about the following :
A while ago at a party, a group of us were talking about a tv news segment which shows how a comparable diamond ring at Costco would cost thousands more at Tiffany because of the ‘Tiffany premium’. An argument that ensued as to whether a lady will accept that her engagement ring was bought at ‘Costco’. I just wrote a post about this conversation on my blog and am conducting a poll to see what people think.
Mr Credit Card
I visited the link you sent me and read your post. First of all I think financials and romance should not be mixed. They should be looked at independently, otherwise, there would be too much debate. It’s like asking, “Would you take your girl to a cheap restaurant as opposite to a fancy one on your anniversary” They both serve the same food, so why pay ten times for it? Sometimes, I just don’t think you could put a price tag on love. Don’t get me wrong, I think some cheap restaurants serve better tasting food than expensive ones, but it may not make the anniversary as special.
Having said that, I took your poll and voted No. Even though it may be the same ring, I would give one from Tiffany because it carries a better warranty. Plus, I would not be sure if Costco’s ring is real-real. Reputation is important here, because you don’t want to be ripped off. It’s a once in a lifetime thing. I would imagine it should be special. I wouldn’t want my future wife to share the same ring with 2 million other Costco customers, right? You’re the married one here, you tell me!!
Your question brings other questions to my mind. What about buying instant photos from theme parks or Disney World? The photo itself is certainly not worth $20, but the moment captured is priceless. What about buying popcorn and drinks for a date in the theater? The food is certainly overpriced, but sometimes it makes the experience worth the price. The point I’m getting to is that I think it ultimately depends on the buyer. And whether the buyer thinks it is worth it? The way I see it, people who are overpaying for something are not looking at it from a financial point of view.