Don't Buy Luxury Goods

Seth Godin has a great post today about the difference between luxury goods and premium goods. His insight into luxury goods - “Luxury goods are organized waste,” is spot on. Luxury goods are when you pay more for a designer’s logo. I don’t buy luxury goods. Premium goods, he writes, are “Pay more, get more.” I own a $200 Benchmade knife. While it probably didn’t need to cost that much, it is very high quality. I wanted a premium knife when I bought it. There were plenty of $500+ luxury knives on the Benchmade website, but none of them would have performed any better than mine.