What’s in a Camilla Dress?
Firstly, let me state that this is a judgement free zone. As I have admitted previously, I am happy to take out a small mortgage on a pair of boots but wince at spending $20 on a taxi – as long as you stick to the overall budget, it’s up to you what you spend on.
Personally, I don’t believe in designer dresses for a 10-yr old. My kids get most of their clothes on the Myer sale – cute, good quality and very reasonably priced. It is completely appropriate for their age and intended purpose.
You have to be insanely boring and practical in some things so you can leave room to be wild and exciting in others.
So back to that Camilla dress.
For two years my daughter and I walked past the Camilla shop in Bondi and it became our little tradition that we would each pick out a dress from the shop window. A dress that we wished for. When it was her birthday I thought I may get her one as a surprise. I peeked into the shop and looked at the price. Wow, the one she wanted was $179 – eek a little insane for a flimsy beach dress that would probably be worn for one season.
So, I started to do some research – they put last season’s dresses on sale – online only. They are first reduced by 20% then 50% then when they have a general store sale they are reduced by another 20%. So now we are looking at $71.60.
But here comes the interesting part – there is a massive market for 2nd hand Camilla dresses online. I am talking Facebook groups with over 10,000 members looking to buy swap and sell. So, if I bought the dress on sale, I could resell it 2 yrs later for the same price (give or take $10). So worth it!
Of course, I could then use this same logic and buy a whole Camilla wardrobe – but so much bohemian print would be boring, I would be taking a risk (albeit small) and tying up my capital…Not to mention all the explaining I would have to do – I would literally have to pin this article on my back.
How does this relate women’s wealth?
Well, I recently had a similar experience with a Fund Manager. I really loved their approach but they were pretty expensive. More recently they changed platforms, making them more accessible or similar to a fund supermarket – and became quite reasonably priced so I jumped at the opportunity and made some investments for my clients.
The lesson here? The methodology is all the same – understand what is the purpose? Here, of the fund or dress. Always buy good quality and feel free to add some designer pieces provided you can get them at a very good price.
If you would like further info on designer funds or clothes – get in touch.
Until next time,