Costly items are better

The general rule in products or services is that you can optimize for only 2 of the 3 parameters – Cost, Quality and Delivery time. For example, if the company optimizes for faster delivery of service/product and high quality, then the cost of manufacturing that product is going to be HIGH, or if the company optimizes for a cheaper product and high quality, then it is going to take forever(delivery time) to deliver it, because they have to find a cheaper vendor and they can’t put more people on the problem (because they want it cheaper).

This principle applies for buyers as well. When given a bunch of vendors selling products with similar capabilities, always go with the costlier one. Of course, validate it by reading some reviews but overall it is always best to purchase the costlier one because the quality of that vendor is going to be better. A lot of times you might not have the budget for it, then it is ok to go for a cheaper one, but if you have the budget, then best to go for the costlier option.

There are three reasons why buying a costlier items is beneficial:

  1. Usually the quality is far superior, you don’t have to worry about annoying issues that pop up.
  2. You tend to take care of such a product better, because you have paid more. (have you seen a lot of dented Jaguars or BMWs on the road?!)
  3. You get some bragging rights.

In my case, I have used android and windows phone before. I used to change it every year. The older one will become slower or the screen will break etc. When I switched to iPhone, I had that phone for 4 years, not just because it was costly but also because it was a great phone, did the job very well.