I recently had some free time and went shopping, spending over 100,000 RMB on clothes. TC and ru7 kept advising me to stop wearing cheap clothes, and I wanted to relax, so I went into Dior, LV, and Balenciaga, and bought six or seven pieces of clothing, pants, and jackets in one go. After shopping, I realized that the price structure of luxury goods is actually a wealth illusion. Unless you're chasing after celebrities to order or dine with, there's no need to buy from physical stores. As long as it's not the latest season item, you can get a 30%-50% discount through a personal shopper. The remaining half is actually buying emotional value; it depreciates by 50% after one wear, and almost disappears after two. Clothes, unlike bags and watches, don't have value retention or black market liquidity. The essence of wealth is value preservation and liquidity. Bags, watches, gold, Bitcoin, and BNB represent wealth not because they're expensive, but because they have a secondary market, consensus, and are recirculated. Clothes, however, are a one-way consumption, not an asset. Sun Ge once said something I particularly agree with: The key to money isn't where it's spent, but whether it can be recovered. Buying things should be viewed from an investment perspective, just like buying a house should be compared to assets like Nvidia. The best consumption logic I can think of is: Uniqlo with Richard Mille, Zara with Patek Philippe. Watches almost never depreciate significantly, and they also have the value of being instantly converted into cash at a 15% discount on the black market globally; clothes are worthless after two wears. Mature wealth management means ensuring that every penny spent has a path to return.

The watch is no longer 15% off 🥲 The watch market has also plummeted.

well said