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Anorak | The Gold Apple Watch; Not Going To Fly, Is It?

The Gold Apple Watch; Not Going To Fly, Is It?

by | 10th, September 2014

SO. Apple’s brought out the iWatch and as a piece of tech it looks not half bad. It’s a phone, a fitness gadget, can help you read maps and, well, it’s actually a blindingly interesting piece of kit. Whether people will go mad for it we’ll just have to see.

However, there’s a certain problem at the top end of the range, where they’ve got a gold iWatch . Yes, OK, there’s lots of gold watches out there. So, obviously, there should be a gold version of the apple Watch? Yes or no?

It’s a difficult question that. For the gold watches are really something called “Veblen Goods”. Put simply, this is stuff that you buy so that you can show that you’ve got enough nous, or style, or simply cash, to be able to buy these sorts of goods. This is true of a Rolex just as much as it is true of a Hermes scarf or Louis Vuitton luggage.

Apple can certainly compete with that, no doubt about it.

However, the other side of this is that people who go buy a gold watch are expecting it to last for a number of years. Generations in fact: people do indeed inherit grandad’s gold Rolex for example (actually, my brother got his steel one but the principle is still there). And those watches maintain their value

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Posted: 10th, September 2014 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink