We all use pens. We have used them in the past and use them in the present as well. Will we be using it in the future is a question that is yet to be answered. We might have those advanced digital pens, not the usual pens which use ink.
The basic idea behind using pen, as we all know, is to write something. You want to write something in your diary, write a list of things you want to buy or use it at school, you will probably use a pen. But would you spend more than hundred dollars for a pen?
That’s the topic that we will be looking into today. Luxury pens. Now, the basic concept behind these pens is the same as any other pen. You use it to write. But what makes it different, you ask? Lets look at it.
A luxury pen is expensive mainly because the word “luxury” is attached to it. You wont go to a shop and ask for a luxury pen and get one. Its more to do with the way that it is manufactured and the materials and craftsmanship that goes into it.
This is a very niche market, in which only a few people would be willing to buy these. There are all sorts of pens here, fountain pens, ball point pen and a lot more. The luxury pen market was valued at $2.29 billion as of 2021 and is expected to grow to $3.8 billion by 2030.
In economics, luxury items are categorized as Veblen goods. In simple terms, these are the goods for which as the price goes higher so does the demand. Lets look at an example, many people can buy a Honda, but not everyone can buy a Rolls Royce. At the end of the day, both will take you from point A to point B, but the exclusivity is what matters here.
The same would be with these pens. Everybody can buy a pen that costs a dollar but not everyone would be willing to buy a pen that costs $500.
What makes these luxury pens stand out and expensive is its marketing. If a pen is being used by a president of a nation and some other successful people, it creates an exclusivity around it. This is what the brands that manufacture these pens, market their products on. Not everyone can use this pen only the most successful can.
Now to extend this exclusivity a bit, limited editions of these pens are launched to create a lesser supply of these pens. These are priced at a higher range, for two reasons, profit and hype. There are people who collect these pens. The lesser the supply, the higher the price.
Lets say a person buys and sells these collectors edition pens. Lets say, that there are only 200 of these pens. The people who want to buy these are 50,000. That’s a lot of demand for a pen. The manufacturer sells it for $1,000. 15 years down the line, the person who purchased this pen sells it for $8,000. That’s a good profit right there. Price of these pens increase as the supply is lower and since these would be considered vintage 15 years later, it enhances the luxury aspect of it.
These pens are not made like any normal pen. These are manufactured by expert craftsmen who have perfected their craft over the decades. Each of these pens goes through many tests, to check how it performs under different situations. This is also done to check and get rid of defects. The craftsmen micro-engineer these pens to perfection.
Some of the brands which make these pens are Montblanc, Sheaffer, Hugo Boss, Parker, Ferrari, Jack Row and Bentley Motors. These are the ones who manufacture the pens for these exclusive club of people.
Luxury pens are made of expensive metals and gems. This makes them even more expensive. No manufacturer would sell a pen with a gold nib and diamonds on it.
These pens are usually passed down from generation to generation. A family tradition. This could be similar to a watch, which is passed on in the family. Such a pen would be kept with utmost care and used in the rarest of occasions.
Since these are handcrafted by artists, goldsmiths and engineers who work together to perfect these unique pens, the manufacturers who sell these pens price these at a higher rate for the exclusive club of people who buy them. These pens also have beautiful engravings in them.
What do you think of these luxury pens? Let me know in the comments below.
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