Every once and while, something happens to you that really makes sense. One of the more profound things that happened to me occurred nearly a decade ago when I was shopping for a tie in Melbourne.
At the time, I was with my wife, Ali, and my sister-in-law, on Chapel Street - home to some of the most fashionable clothes in Australia. And after walking into what looked and felt like a very elite shop that specialised in selling ties, I happened to come across one that really appealed to me.
The gentleman behind the counter told me that the tie was very exclusive because the manufacturer only made one for each store like his…and there were only 30 of those in the world! In fact, in Australia, there was only one such store…and at that moment, I happened to be standing in the middle of it!
The tie was a patterned purple and made of pure silk. And though the colour certainly appealed to me, I think it was the pattern, and the fact that it was pure silk, that ultimately made me decide that I wanted it.
Credit card in hand, I sheepishly approached the counter (I guess everything about that shop suggested that this was not going to be a cheap purchase - I just didn’t know how much). Anyway, when the gentleman began to WRAP THE TIE IN SILK, I became a little concerned. “How much does the tie cost? I asked. “Two hundred dollars” came the reply.
Now $200 ten years ago was like $450 today. I mean, I could’ve had a small holiday for that amount. And though I hate to admit it now, I decided that $200 was TOO MUCH, and so told the gentleman that I would not be buying it after all.
As I turned to leave the shop, I found my wife and sister-in-law blocking my way. To my surprise, both were insisting that I buy the tie.
“Why” I asked, a little perplexed.
“Well” said Ali; “For one thing, every tie that you look at from now on is going to be compared to this one. And they have no chance of measuring up.”
“Two” she continued; “You deserve it. I mean, you work hard, why shouldn’t you own this tie?”
“And three; she said, “In four or five years time, the price of this tie will seem insignificant – you won’t even remember it.”
As I stood there, I realised Ali was right…on all fronts. And after some deliberation, I ended up buying that tie… A decision that still serves me well today.
You see, out of that incident I learned that the rationale for buying that tie holds true to buying many things in life…Including real estate. That’s because when you’re looking for property, it’s often easy to tell yourself that if you miss out, “another home like it will come along”.
The fact that in over a decade, I’ve never seen another tie like mine, says otherwise.
David Fear
Director
Altus Real Estate