We've all been there: A window display or a recommendation lures us into a store -- and we face unexpectedly astronomical price tags. It seems to happen more often these days as many luxury brands -- selling everything from $14,000 Ralph Lauren handbags to $899 Bugaboo baby strollers and $6,900 Beefeater barbecue grills -- push their top price points higher than they've ever gone before. What's priced below falls into that ever-expanding category: "affordable luxury."
Some people cut and run when confronted with prices that seem crazy. But many of us experience a sudden emotional-mathematical transformation. We set a new ceiling for a "reasonable" price. Disinclined to go all the way to buy the trophy, we instead settle for a consolation prize. Mr. Schwarz, a jeans-wearing type, walked out of Boyds with a suit that cost merely $800 -- the most he'd ever spent on an item of clothing.
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Some people cut and run when confronted with prices that seem crazy. But many of us experience a sudden emotional-mathematical transformation. We set a new ceiling for a "reasonable" price. Disinclined to go all the way to buy the trophy, we instead settle for a consolation prize. Mr. Schwarz, a jeans-wearing type, walked out of Boyds with a suit that cost merely $800 -- the most he'd ever spent on an item of clothing.
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