Today I was watching an old episode of the Million Dollar Contractor show and the host was angry because one of his workers had made a mistake while building a $30,000 cupboard. The cupboard was made of wood. It’s true it hadn’t been finished and I didn’t get to see what it was supposed to look like or what it looked like when it was finished but it seemed to be a regular cupboard. There were more cupboards to be built and installed, and they were worth $270,000 altogether. The host only cared to show the audience the bathroom and the bedroom at the end of the episode, so I have no idea how fantastic the $270,000 furniture looked, but even if it was part of a larger project carried out by one of the best contractors in New York I still wonder why someone would think paying $30,000 for a wood cupboard is really worth it. :dubious:
For the same reason someone would spend $68,000 on a wristwatch.
Assume that this was part of a house that cost 6-10 million dollars. Make more sense now?
In other words, anyone else would pay $1,000 for exactly the same cupboard. But since the homeowner is rich, the contractor can add $29,000 profit.
Not really, but close. The cost to the contractor for the materials and labor might be more like 5-10,000. Profit is not a dirty word.
I didn’t see the cupboard, so I can’t judge the materials. If it’s a closet-sized cupboard and demolition had to be done, I can see $5,000. Smaller job? I’m still saying a grand.
Profit is not a dirty word. Some people have more dollars than sense, and if someone can get that much from them, it’s not the contractor’s problem.
I have a cousin who is a contractor. He has spent the last couple working on a really wealthy person’s home. And he has told me stories.
This is a super-wealthy family building their dream house and sparing no expense. We’re talking an eight-figure house.
Everything is specially made for the house. They don’t just go to Lowe’s or Home Depot to buy something like you or I would do. A cupboard, to use the example from the OP, isn’t something they would buy pre-made. They would have one specifically designed and built for their kitchen.
If you or I wanted to install a window in our hallway, we’d go out and decide what standard sized window we wanted. These people don’t do that. They decide what size they want. And then they have a glassmaker make them panes of glass that size and have a carpenter custom build a frame to hold the glass.
True story: they were building a stone patio and they were considering what stone they wanted to use. The stone people offered to send them samples of all of the different possibilities. That wasn’t good enough. They decided to have a bunch of mini test patios build, each out of a different stone, so they could see what they would look like installed on their property under different kinds of sunlight and weather conditions.
In general, things seem very expensive until you spend a lot of time researching them. After a while you start to notice and appreciate the difference between a $500 cupboard and a $1000 cupboard. Then you see how a $2000 cupboard is better than a $1000 cupboard. If you are someone who can afford a $30,000 cupboard (or even if you aren’t), you’ll eventually get to the point where you see the difference between a $25,000 cupboard and a $30,000 cupboard, and cannot unsee it.
I’m not there with cupboards but that’s generally been my experience with product research. I may start out looking for the best <$500 camera and a couple hours later I’m comparing specs between $2000 cameras, and complaining that neither one has all the features I need (i.e. want).
People buy what they like if they have the money. Just the other day I was window-shopping ancient coins on Ebay, sorted from highest priced to lowest. There were several silver coins there in the $50,000 or more range that I’d buy in a heartbeat if I were a billionaire. Not because I think they would be a good investment but because they are stunning pieces of art and history.
Cupboard.
What an odd word.
Cupboard.
mmm
Literally, a board you put cups on.
This. You can’t buy exactly that cupboard for $1000. You can buy a pre-made cupboard that doesn’t exactly fit the space exactly the way you want it to, and that has standard fittings that aren’t quite what you want, and that’s made of a standard common wood, and doesn’t have the selected-grain planks of select hardwood to put your cups on.
I’m sure there’s a nice profit in there, too. But the homeowner is getting something he couldn’t get for a lot less money.
I recently re-did a bathroom for about as much as that cabinet cost. And despite having a good contractor do a lot of custom work, there are all sorts of little things that I would have done differently if I’d budgeted $1M for the bathroom. In particular, I would have had someone build the cabinets and door from scratch, with nicer wood and with less hardware and tighter tolerances. I don’t have that kind of budget, but I could spend it if I did.
See, if you have infinite money, and plenty of time, this is the best way to do it. For most of us, the marginal benefit isn’t worth the cost. (Heck, I don’t have SPACE to build a lot of test patios.) But I can certainly imagine being able to afford that.
I’ve heard that the really expensive ones can create life from plastic models.
I totally would have done that, but when I saw they had the gall to add $4.95 shipping and handling, I said, “Deal’s off!”
This video might give you some hint of why high-end wristwatches are expensive. I believe this one is $2.6 million.
In an episode of Elementary there was an expensive cupboard. It was full of cocaine. And worth every penny.
I get that. But that should be known as a cup board.
Not a cubberd.
mmm
Right. My family always called it a cubberd.
But, they were dysfunctional.
Oh, please.
Are the CNC machines being paid?
And, how much are the craftsmen making? At $100 an hour, they could work on a $2.4M watch for almost 3 years without rest.