The elevated cost associated with Creed fragrances stems from a confluence of factors that differentiate them from mass-produced perfumes. These factors include a dedication to sourcing rare and high-quality raw materials, often originating from specific regions known for exceptional harvests. Furthermore, the brand’s historical emphasis on meticulous hand-processing, while now supplemented by modern techniques, contributes to the perception of artisanal craftsmanship and, consequently, higher pricing.
The benefits of using premium raw materials and employing specialized production methods extend beyond mere perception. These processes purportedly result in more complex, nuanced scent profiles and improved longevity on the skin. Historically, Creed fragrances have cultivated an aura of exclusivity, associated with royal patronage and a clientele seeking exceptional olfactory experiences. This long-standing reputation for luxury and prestige further justifies the higher price point in the eyes of many consumers. The scarcity of ingredients and labor-intensive processes also limit production volume, reinforcing the brand’s image of exclusivity and driving up market value.
Understanding the reasons behind the pricing structure requires an examination of several key areas, including the source and quality of ingredients, the production process and associated labor costs, the impact of branding and marketing strategies, and the overall economics of niche fragrance markets. These elements collectively contribute to the ultimate retail price and explain consumer perceptions of value.
1. Rare Ingredients
The connection between rare ingredients and the elevated price of Creed fragrances is a direct reflection of supply and demand, as well as the labor involved in acquiring and processing these materials. Creed often sources ingredients from specific regions renowned for producing exceptionally high-quality harvests. For example, the brand may utilize Bulgarian rose oil, known for its complex fragrance profile, or jasmine from Grasse, France, a region historically associated with perfumery excellence. The limited availability of these ingredients, often coupled with specialized harvesting techniques, significantly increases their cost, which subsequently impacts the final price of the fragrance.
The use of natural ingredients, in contrast to synthetic alternatives, also plays a crucial role. Natural ingredients often yield more complex and nuanced scent profiles, but their production is subject to variations in weather, crop yields, and geographical limitations. These factors contribute to scarcity and drive up prices. For instance, the cost of natural ambergris, a rare substance derived from sperm whales (though ethically sourced synthetic alternatives are now more common), can be astronomical, reflecting its rarity and the challenges associated with its procurement. Similarly, orris root, derived from iris plants, requires years of cultivation and processing before it can be used in perfumery, contributing to its high cost.
In summary, the inclusion of rare and difficult-to-obtain ingredients directly contributes to the higher cost of Creed fragrances. The limited supply, specialized harvesting methods, and potential reliance on natural rather than synthetic sources all contribute to increased expenses. Understanding this connection underscores the brand’s emphasis on quality and the willingness of consumers to pay a premium for fragrances that incorporate these unique and often scarce raw materials. While the brand may not exclusively use only the rarest ingredients in every fragrance, their commitment to high-quality, naturally derived components, when available, justifies the elevated price point and reinforces its positioning within the luxury fragrance market.
2. Artisanal Production
The practice of artisanal production directly contributes to the higher cost associated with Creed fragrances. While modern techniques are employed, the historical emphasis on hand-processing and small-batch production remains a core element of the brand’s identity and pricing strategy. This involves meticulous steps in blending, maceration, and filtration, often performed by skilled perfumers. The labor-intensive nature of these processes, compared to automated mass production, inevitably raises production costs. For example, hand-weighing and measuring each ingredient to ensure precise proportions, rather than relying solely on automated systems, demands more time and expertise. Similarly, the manual inspection of raw materials to assess their quality and suitability for use adds to the overall cost of labor.
The importance of artisanal production extends beyond simply increasing labor costs. It also reflects a commitment to maintaining quality control and ensuring the consistency of each batch. Small-batch production allows for greater oversight and the ability to make adjustments based on the specific characteristics of the ingredients being used. This is particularly significant when working with natural ingredients, which can exhibit variations in scent and composition from one harvest to the next. By employing skilled artisans, Creed can adapt its formulas to compensate for these variations, ensuring a consistent and high-quality final product. This level of control is difficult to achieve in large-scale, automated production environments. Furthermore, artisanal production methods contribute to the brand’s perceived exclusivity and craftsmanship, appealing to consumers who value authenticity and attention to detail. The perceived value associated with hand-crafted products allows for a higher price point compared to mass-produced alternatives.
In conclusion, the commitment to artisanal production methods significantly impacts the cost of Creed fragrances. The labor-intensive processes, the emphasis on quality control, and the enhanced flexibility in adapting to variations in natural ingredients all contribute to higher production expenses. These elevated costs are then passed on to the consumer in the form of higher prices. However, the artisanal aspect also adds value to the brand, reinforcing its image as a purveyor of luxury and craftsmanship, thereby justifying the higher price point for consumers who seek exceptional quality and exclusivity. Understanding the role of artisanal production in Creed’s pricing strategy reveals a dedication to quality and tradition that distinguishes it from mass-market fragrance brands.
3. Historical Legacy
Creed’s purported historical legacy, dating back to 1760, significantly contributes to its premium pricing. The claim of serving royal houses and prominent historical figures establishes an aura of exclusivity and prestige. This long-standing association with aristocracy fosters a perception of superior quality and luxury, justifying higher costs in the minds of consumers. The purported patronage of figures like Queen Victoria or Empress Eugnie lends an intangible value that directly impacts pricing. Consumers are not simply purchasing a fragrance; they are investing in a piece of olfactory history and aligning themselves with a legacy of refinement. The historical narrative, whether entirely factual or partially embellished, functions as a crucial marketing tool that differentiates Creed from contemporary brands and supports its higher price point. This legacy is actively promoted through marketing materials, reinforcing the perception of a heritage brand with an unparalleled history of serving discerning clientele.
The practical significance of this understanding lies in recognizing the power of perceived history in shaping consumer perceptions. While the veracity of all historical claims may be debated, the consistent presentation of a long and illustrious past creates a strong brand identity. This identity allows Creed to command premium prices based on the association with royalty, craftsmanship, and exclusivity. Competitors without a similar historical narrative struggle to justify comparable price points, highlighting the importance of heritage as a valuable asset in the luxury goods market. For example, a fragrance marketed solely on its scent profile may be perceived as less valuable than one accompanied by a story of royal patronage, even if the actual ingredients and production costs are similar. The historical narrative provides a context and justification for the higher price, appealing to consumers who seek not only a pleasant scent but also a connection to a perceived tradition of luxury and exclusivity.
In conclusion, Creed’s historical legacy, real or perceived, plays a vital role in justifying its expensive price tag. It functions as a powerful marketing tool, creating a perception of exclusivity, quality, and heritage. Understanding this connection reveals the importance of brand narrative and the power of perceived history in shaping consumer behavior within the luxury goods market. While the actual ingredients and production processes contribute to the cost, the historical narrative provides an intangible value that allows Creed to command a premium price and maintain its position as a luxury fragrance brand. This reliance on historical narrative, however, also presents a challenge: maintaining the perception of authenticity and reinforcing the brand’s legacy through consistent messaging and marketing efforts.
4. Brand Exclusivity
Brand exclusivity functions as a critical factor in justifying the premium pricing of Creed fragrances. The deliberate creation and maintenance of an image of scarcity and inaccessibility directly influences consumer perception of value. This exclusivity is achieved through limited distribution channels, selective retail partnerships, and a strategic emphasis on heritage and craftsmanship. The perception that Creed fragrances are not readily available to the mass market amplifies their desirability and reinforces their status as luxury goods. This, in turn, allows the brand to command higher prices than fragrances with wider distribution and less pronounced brand exclusivity. The conscious restriction of availability, therefore, actively contributes to the high cost, by cultivating an atmosphere of aspirational ownership.
The impact of brand exclusivity can be observed through Creed’s selective presence in high-end department stores, specialized boutiques, and limited online retail partnerships. Unlike mass-market fragrances found in drugstores or discount retailers, Creed intentionally restricts its points of sale. This deliberate scarcity reinforces the brand’s image as a luxury product, signaling to consumers that it is not intended for everyday purchase but rather for special occasions or discerning individuals. Furthermore, the brand often releases limited-edition fragrances or exclusive collaborations, further enhancing its exclusivity and driving up demand among collectors and enthusiasts. The pricing structure reflects this carefully cultivated image, with higher price points serving as a barrier to entry for a wider consumer base and reinforcing the brand’s aspirational status. The practical effect of this approach is increased revenue per unit sold, even if the total volume of sales is lower than that of more widely available brands.
In summary, brand exclusivity plays a pivotal role in justifying the elevated price point of Creed fragrances. By strategically limiting distribution, cultivating a perception of scarcity, and emphasizing heritage and craftsmanship, Creed successfully positions itself as a luxury brand, thereby enabling it to command premium prices. This strategy, however, also presents challenges, including the need to consistently reinforce the brand’s exclusive image and manage customer expectations regarding availability and accessibility. The continued success of this approach hinges on maintaining the perceived value and desirability of Creed fragrances within the highly competitive luxury goods market.
5. Complex Formulations
The intricate nature of Creed’s fragrance compositions contributes significantly to the elevated cost associated with the brand. These complex formulations require skilled perfumers, a wide array of ingredients, and meticulous blending processes, all of which drive up production expenses.
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Diverse Ingredient Palette
Creed fragrances often incorporate a large number of different ingredients, sometimes exceeding one hundred individual components. This diversity necessitates sourcing materials from various regions and suppliers, increasing logistical complexity and procurement costs. For instance, a fragrance might include top notes from Italian bergamot, a heart of Egyptian jasmine, and a base of Indian sandalwood. The sourcing of each ingredient adds to the overall expense.
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Precise Blending and Maceration
The creation of a complex fragrance demands precise blending techniques and extended maceration periods. Perfumers must carefully balance the proportions of each ingredient to achieve the desired scent profile. The maceration process, during which the blended fragrance matures, can last for several weeks or even months. This lengthy process ties up resources and increases production time, contributing to the overall cost.
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Use of Natural Absolutes and Extracts
Creed’s formulations often feature natural absolutes and extracts, which are derived from flowers, plants, and other natural sources. These materials are significantly more expensive than synthetic aroma chemicals. The extraction process for absolutes is often labor-intensive and yields only small quantities of the desired fragrance compound. For example, obtaining rose absolute requires processing vast quantities of rose petals, making it a costly ingredient.
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Development and Refinement Process
Formulating a complex fragrance requires extensive development and refinement. Perfumers must experiment with different ingredient combinations and proportions to achieve the desired result. This process involves numerous iterations and can take months or even years to complete. The labor costs associated with this iterative development process contribute to the overall expense of producing the fragrance.
In summation, the complexity of Creed’s fragrance formulations, driven by the use of diverse ingredients, precise blending techniques, natural extracts, and a lengthy development process, collectively contributes to the higher production costs and, consequently, the elevated price point. These factors underscore the brand’s emphasis on quality and craftsmanship, justifying the premium price for consumers who appreciate the artistry and complexity of fine fragrances.
6. Limited distribution
Limited distribution serves as a deliberate strategy that directly contributes to the elevated pricing of Creed fragrances. The scarcity created through restricted availability enhances the perception of exclusivity and desirability. This practice contrasts sharply with mass-market brands that aim for widespread accessibility. Creed strategically limits its presence to select high-end department stores, specialized perfume boutiques, and a small number of authorized online retailers. This constrained distribution network functions as a marketing tool, signaling to consumers that Creed fragrances are not commonplace commodities but rather luxury goods reserved for a discerning clientele. The direct consequence of this limited reach is an increased willingness among consumers to pay a premium for fragrances perceived as rare and exclusive.
The economic impact of restricted distribution extends beyond the immediate increase in price elasticity. By maintaining tight control over its distribution channels, Creed minimizes the risk of discounting and erosion of brand value. Mass-market brands, often found in discount retailers, face price competition that can devalue the brand image. Creed avoids this pitfall by carefully selecting its retail partners, ensuring they align with the brand’s luxury positioning. This control allows the brand to maintain consistent pricing across its limited points of sale, reinforcing the perception of value and justifying the higher price point. Furthermore, limited distribution reduces the need for extensive marketing campaigns aimed at broad consumer segments, allowing Creed to focus its marketing efforts on targeted demographics willing to pay a premium for exclusivity and prestige. A real-world example can be seen comparing Creed’s limited presence with a widely available designer fragrance; the latter often experiences frequent discounting to drive volume, which rarely occurs with Creed. This practice maintains profitability on the higher end by only selling with the higher exclusivity through its marketing chain.
In conclusion, limited distribution represents a calculated strategy that significantly influences the cost of Creed fragrances. It fosters a sense of exclusivity, enhances brand desirability, and enables the brand to maintain control over pricing and brand image. Understanding this connection is crucial for comprehending the broader economics of luxury goods, where scarcity and exclusivity often play a more significant role than production costs in determining retail prices. While challenges exist in maintaining this exclusivity in the face of online marketplaces and unauthorized resellers, Creed’s commitment to limited distribution remains a cornerstone of its brand strategy and a key driver of its high prices.
7. Intense Marketing
The relationship between intensive marketing efforts and the pricing structure of Creed fragrances is characterized by a deliberate strategy designed to cultivate and reinforce its luxury brand image, justifying its high cost.
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Celebrity Endorsements and Associations
Creed has historically employed a marketing approach that subtly associates its products with influential figures and celebrities. This creates a perception of aspirational luxury and prestige. While not always explicit endorsements, the implied association with high-profile individuals enhances the brand’s appeal to consumers seeking to emulate a similar lifestyle. The cost of cultivating these associations, through various channels, contributes to the overall marketing expenditure, which is ultimately reflected in the price of the product.
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Heritage and Storytelling Emphasis
Creed’s marketing narratives heavily emphasize its purported historical legacy, tracing its origins back to 1760 and highlighting alleged royal patronage. These carefully crafted stories, whether entirely factual or partially embellished, create an aura of tradition and exclusivity. The investment in developing and disseminating these historical narratives, through advertising, public relations, and website content, adds to the marketing budget and supports the brand’s premium pricing strategy. The perception of a long and storied history allows Creed to command higher prices than brands lacking a comparable narrative.
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Selective Media Placement
Creed strategically chooses its media outlets to reach its target demographic. Advertising campaigns are typically featured in high-end lifestyle magazines, luxury travel publications, and online platforms catering to affluent consumers. This selective media placement ensures that the brand’s message is delivered to an audience willing to pay a premium for luxury goods. The cost of advertising in these exclusive media outlets is significantly higher than that of broader-reach channels, contributing to the overall marketing expenditure.
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Experiential Marketing and In-Store Presentation
Creed invests in creating a luxurious and immersive in-store experience. This includes elegant store designs, knowledgeable sales staff, and personalized fragrance consultations. Experiential marketing, such as exclusive events and product launches, further enhances the brand’s prestige and creates a memorable experience for potential customers. The cost of designing and maintaining these high-end retail environments, along with the expenses associated with experiential marketing initiatives, contributes to the overall marketing budget and supports the brand’s premium pricing.
These intense marketing efforts, focusing on celebrity associations, historical narratives, selective media placement, and experiential marketing, collectively contribute to the perception of Creed as a luxury brand, thereby justifying its elevated price point. The investment in these marketing strategies is a deliberate attempt to cultivate and maintain a brand image that resonates with affluent consumers seeking exclusivity and prestige. The understanding of this correlation illuminates the significant role of marketing in shaping consumer perceptions of value and influencing pricing strategies within the luxury goods market.
8. High demand
Elevated consumer desire significantly influences the pricing dynamics of Creed fragrances. The interplay between limited production capacity and substantial market interest contributes to a pricing structure exceeding that of many comparable products. This phenomenon, rooted in basic economic principles, manifests through several distinct mechanisms.
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Price Elasticity and Consumer Willingness to Pay
High demand permits Creed to operate with greater price elasticity. A segment of the consumer base demonstrates a willingness to pay elevated prices due to perceived value, brand prestige, and the olfactory experience provided. This heightened demand mitigates the impact of price increases on sales volume, allowing the brand to maintain profitability at higher price points. The perception of value, whether based on ingredient quality, craftsmanship, or brand image, sustains this elevated demand even as prices increase.
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Exclusivity and Scarcity Marketing
The presence of robust demand enables Creed to employ scarcity marketing tactics effectively. By limiting production volume or strategically restricting distribution channels, the brand amplifies the perception of exclusivity and drives demand even further. This artificial scarcity generates a sense of urgency and reinforces the brand’s luxury positioning. Consumers are more inclined to purchase a product perceived as difficult to obtain, contributing to a self-perpetuating cycle of high demand and elevated prices.
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Market Signaling and Perceived Quality
High prices serve as a market signal, conveying information about product quality and brand status. Consumers often associate higher prices with superior ingredients, craftsmanship, and overall product experience. Creed’s pricing strategy leverages this association, using high prices to communicate its position as a premium fragrance brand. This, in turn, reinforces consumer perceptions of value and sustains high demand, even in the face of less expensive alternatives. The price functions as an indicator of exclusivity and luxury.
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Influence of Secondary Markets and Resale Value
Strong demand for Creed fragrances manifests in robust secondary markets. Limited edition releases and discontinued fragrances often command significantly higher prices on resale platforms. This resale value reinforces the perception of Creed fragrances as investments rather than mere consumer goods. The presence of a thriving secondary market further incentivizes consumers to purchase Creed fragrances, knowing that they retain value and may even appreciate over time, sustaining high demand levels.
In summation, the confluence of these demand-driven factors substantially influences the pricing landscape of Creed fragrances. Heightened price elasticity, strategic scarcity marketing, the signaling effect of elevated prices, and the influence of secondary markets collectively contribute to a pricing structure that distinguishes Creed from its competitors and aligns with its luxury brand positioning. This interplay underscores the complex relationship between consumer demand and pricing strategy within the high-end fragrance market, elucidating why Creed fragrances command premium prices.
9. Perception of luxury
The elevated cost of Creed fragrances is inextricably linked to the perception of luxury cultivated around the brand. This perception, rather than solely reflecting intrinsic material value, is a carefully constructed and actively maintained attribute. The effect is a pricing structure that far exceeds the cost of raw materials and production. The brand deliberately fosters this image through several mechanisms, all contributing to the justification of higher prices. This strategic cultivation of a luxury perception is a foundational component of the brand’s pricing strategy, enabling it to command a premium in the fragrance market.
A primary driver of this perception is the emphasis on heritage and historical associations, often referencing royal patronage and celebrity endorsements. This narrative creates an aura of exclusivity and sophistication, positioning the fragrances as more than mere scents; they become symbolic representations of a refined lifestyle. Consider, for instance, the consistent marketing efforts that highlight the brand’s historical connections, regardless of their complete factual accuracy. This deliberate construction of a historical narrative serves to elevate the perceived value of the product, allowing for a premium price point. Another contributing factor is the limited distribution strategy, restricting availability to select high-end retailers and exclusive boutiques, reinforcing the perception of scarcity and desirability. These efforts collectively shape consumer perceptions, leading them to associate Creed fragrances with luxury and exclusivity, thereby justifying the higher price tag.
The understanding of this connection carries practical significance for both consumers and competitors. For consumers, recognizing the influence of perceived luxury allows for more informed purchasing decisions, separating the inherent value of the fragrance from the marketing narrative. Competitors can leverage this understanding to challenge Creed’s market dominance by focusing on alternative value propositions, such as innovative scent profiles or ethical sourcing practices, appealing to consumers less swayed by traditional luxury cues. Ultimately, the correlation between price and the perception of luxury underscores the importance of brand management and marketing in the high-end fragrance market, demonstrating how carefully cultivated perceptions can significantly impact pricing power. Challenges remain in maintaining this perception in an era of increasing transparency and consumer skepticism, requiring continual efforts to reinforce the brand’s narrative and uphold its image of exclusivity.
Frequently Asked Questions
The following questions address common inquiries regarding the pricing structure associated with Creed fragrances, providing factual insights into the factors contributing to their elevated cost.
Question 1: Does the cost of Creed fragrances solely reflect the price of raw materials?
No. While high-quality and rare ingredients contribute to the expense, the price also reflects production methods, brand heritage, marketing expenditures, distribution strategies, and perceived exclusivity.
Question 2: Are Creed fragrances truly hand-crafted, and does this significantly impact the price?
While historical emphasis existed on hand-processing, modern techniques are incorporated. However, specialized labor and attention to detail throughout the production process contribute to the overall cost, exceeding that of mass-produced alternatives.
Question 3: How does the purported historical legacy of Creed influence its pricing?
The historical narrative, whether fully factual or partly embellished, creates a perception of tradition and luxury. This contributes to brand prestige and allows for premium pricing compared to brands lacking a comparable heritage.
Question 4: Does limited distribution contribute to the high cost, or is it merely a marketing tactic?
Limited distribution serves both purposes. It enhances the perception of exclusivity, justifying a higher price point, and strategically controls distribution channels to minimize discounting and maintain brand value.
Question 5: Are Creed fragrances demonstrably superior in scent complexity and longevity compared to less expensive options?
Subjective preferences vary, but proponents argue that the use of high-quality ingredients and meticulous blending results in more nuanced and longer-lasting scent profiles. Independent testing and consumer reviews can provide further insight.
Question 6: Is the price of Creed fragrances justified from an objective, cost-benefit perspective?
Justification is subjective and depends on individual consumer values. The price reflects a combination of factors, including material costs, brand prestige, and perceived exclusivity. Consumers must weigh these elements against their personal budgets and preferences.
Understanding these factors allows for a more informed assessment of the value proposition presented by Creed fragrances. The price reflects more than just the scent itself; it encompasses the brand’s history, image, and marketing strategies.
The subsequent section will explore potential alternatives to Creed fragrances for consumers seeking similar scent profiles at a more accessible price point.
Navigating the Landscape of Premium Fragrances
Understanding the economic and marketing factors influencing the pricing of luxury fragrances allows for informed decision-making and strategic approaches to acquiring desired scent profiles. Examining these elements provides consumers with the tools to assess value and explore alternative options.
Tip 1: Deconstruct the Scent Profile: Identify the primary notes (e.g., bergamot, sandalwood, ambergris) that appeal to you within a favored Creed fragrance. This knowledge facilitates the search for alternatives with similar compositions at lower price points. Accessing online fragrance databases can assist in identifying these notes and their prevalence in various perfumes.
Tip 2: Explore Niche and Independent Perfumers: Many independent perfumers offer fragrances utilizing high-quality ingredients and complex formulations at prices more accessible than established luxury brands. Research independent perfumeries and sample their offerings to discover unique scent profiles without the premium brand markup.
Tip 3: Consider “Inspired By” or “Dupe” Fragrances with Caution: Numerous companies offer fragrances designed to mimic the scent profiles of popular luxury brands. While these may provide a similar olfactory experience at a lower cost, quality and longevity can vary significantly. Thorough research and reading customer reviews are crucial before purchasing these alternatives.
Tip 4: Decant Purchases Offer a Trial Period: Before committing to a full bottle of an expensive fragrance, consider purchasing a decant or sample. This allows for an extended trial period to assess the scent’s performance on your skin and determine if the full bottle purchase is justified. Many online retailers specialize in fragrance decants.
Tip 5: Investigate Fragrance Concentrations: Eau de Parfum (EdP) and Parfum concentrations generally offer greater longevity and projection compared to Eau de Toilette (EdT) versions. Consider investing in a higher concentration of a fragrance you enjoy, as it may provide better value in the long run by requiring fewer applications. Lower concentrations result in using the product faster.
Tip 6: Understand that Time is the Essence: Consider waiting during events or sales such as after holidays, to purchase the products as most stores will provide a discount and allow you to try a product without having to pay full amount. By timing your purchases, you may be able to afford the item without thinking too much.
By adopting a strategic approach to fragrance selection and purchasing, consumers can navigate the luxury market effectively and achieve desired olfactory experiences without necessarily incurring the high cost associated with premium brands. It requires time to ensure you got your product on time. Remember to research!
The following section will provide a concluding overview, summarizing the key factors influencing the pricing of Creed fragrances and emphasizing the importance of informed consumer decision-making.
Why Are Creed Fragrances So Expensive
The examination of why are creed fragrances so expensive reveals a multifaceted explanation extending beyond mere ingredient costs. The premium pricing reflects a combination of factors: purported historical legacy, emphasis on artisanal production (though increasingly supplemented by modern techniques), selective distribution strategies designed to enhance exclusivity, and intensive marketing efforts aimed at cultivating a perception of luxury. The convergence of these elements, coupled with robust consumer demand, allows the brand to command prices exceeding those of many comparable fragrances.
Ultimately, the perceived value of a Creed fragrance is subjective and contingent upon individual priorities. While the high cost may be justifiable for consumers seeking prestige, exclusivity, and a connection to a carefully constructed brand narrative, informed decision-making necessitates a critical assessment of the factors contributing to the price. Further exploration of alternative brands, a deeper understanding of scent profiles, and a recognition of the influence of marketing tactics can empower consumers to navigate the luxury fragrance market with greater discernment and achieve their olfactory goals without necessarily incurring a premium expenditure. The power of informed selection lies in recognizing that the perceived value is in the eye, or rather, the nose, of the beholder.
