I have a buddy who is an amazing chef and better, he loves to host and set up breakfasts and dinners. This past Saturday he prepared a 5 course meal with 6 scotches that ranged from a free bottle to a $130 bottle for 6 buddies (I was one of them). Five out of the 6 bottles came from a very good distillery, Glenmorangie. The sixth bottle was given to him by the liquor store for free for buying the others! Considering we are a bunch of 29 to 34 year olds who have had a couple years of drinking scotch under our belt we felt that we could put them in the order of best (read: most expensive) to worst (read: free).
The bottles we got were:
- The Original (10 Year old)
- Quinta Ruban (12 Year Old in Port Casks)
- La Santa (12 Year Old in Sherry Casks)
- Nectar (12 Year Old in French Casks)
- 18 Year Old
- The Cheap Stuff
Struggling With Value, Price and Worth
I have struggled with the concepts of value and worth before. I have a huge problem (and it is me, not them) people perceive value because something is expensive. For whatever reason it drives me literally crazy.
Just because you pay 50% more for your cell phone service doesn’t mean it is better (talking to you Verizon People…SPRINT RULES)…just because you overpaid on an engagement ring doesn’t make it more valuable…and just because your bottle of scotch is 4 times the price doesn’t mean you’ll like it more!
I am not sitting on my high horse here preaching to those below, I do it too. My next car is likely to be something most consider a luxury when a brand new bad ass Hyundai Sonata would do. Seriously have you seen how good they look right now?
I think the best comments I heard on the topic were recently at a seminar when the speaker said while pointing at his wrist,
Yup, this is a rolex. Do I wear it because it tells time better? Nope. The watch at the bottom of the cereal box will probably tell the exact same time. I wear it because every time I look at it, I get a feeling inside of me.
The value is the feeling, not the time.
But I digress, back to the contest.
Scotch Tasting Contest Results
As you can tell from the tone of the post I am happy to announce that 5 out of 6 people picked the free bottle. I was one of those 5 people. The $130 bottle ended up in the middle of everyone’s list.
Do you struggle with the concept of Value versus Price versus Worth? Am I over thinking this silly little experiment?