39sec snip

Acquired cover image

Hermès

Acquired

NOTE

Art and Luxury: The Utility Spectrum

There is a distinction between luxury and premium based on utility. Premium products offer more utility for the additional cost, such as a bigger storage space on a phone providing more practical use. Luxury items, however, involve paying more without a corresponding increase in utility. The appeal of luxury can stem from intrinsic satisfaction or serve as an extrinsic signal of financial means, despite not enhancing practical utility.

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