Why You Buy What You Buy. Or, "Think, Boys. Think!"

It's not easy to pick a gift that will make the right impression.

Baboushka oven mitt: practical but what does it say about you?

"The great challenge lies in making the leap into someone's else's mind," writes Dan Ariely in the Wall St. Journal.

The Duke University professor of behavioral economics says that when consumers choose gifts, they don't act rationally. And rightly so, he adds!

He divides gifts into four groups.

He calls the first "straightforward economic exchanges." You need underwear, so someone gives it to you. Not too exciting, but from an economic standpoint you get full value from it.

Another type of gift is "one that tries to create or strengthen a social connection." Ariely cites the example of bringing a bottle of wine when you go to someone's house for dinner, as a way to say thank you. This is the opposite of economic efficiency, but likely to be much more appreciated than the underwear.

A third category is the "paternalistic" gift. You select something you think the recipient should have, like a membership to Weight Watchers. This "ignores the preferences of the person getting the gift." No kidding!

His final type of gift is "one that somebody really wants but would feel guilty buying for themselves." Unless you're Warren Buffet, you should have no problem coming up with your own examples.

Ariely's best advice: "If your goal is to maximize a social connection, don't give a perishable gift like flowers or chocolate." Once the recipient finishes these gifts, there's no reason to think of you anymore.

He suggests giving something permanent that is used intermittently. That way, they'll think of you every time they use your gift. Or at least, you hope they will.

Choose carefully. You want the connection between you and the gift to be a positive one. It's not smart to give socks, a shower curtain or an oven mitt – no matter how useful these items may be – to someone you want to impress. But you knew this already.

Better yet, when you must wow VIPs and valued customers, call JASPER & JAMES at (310) 581-6710.

The Annals of Luxury: A Warm Reception for Cold Cash

Joy comes not through possession or ownership
but through a wise and loving heart – Buddha

Tell that to the new money, logo-crazed strivers of Ulan Bator.

The latest luxury shopping mecca just may be this booming if remote capital of Mongolia. Or so opines The Wall St. Journal Magazine.

Vuitton: it's everywhere you don't want to be, like downtown Ulan Bator

Louis Vuitton opened a store there in 2009. It shares the same Central Mall location with Burberry, Zegna, Hugo Boss and Emporio Armani. Dunhill and Ferragamo are expected to be there soon.

"How could it be that luxury retailers have come to Mongolia?" wonders author Maureen Orth. "The country has only 2.8 million people, almost half of them living in a capital built [in the 1940s by the Russians] for 500,000, including 700,000 destitute former nomads whose gers [huts] crowd the surrounding hills."

Paris of the Steppes it's not.

Ulan Bator by day...

...and by night

Orth goes on to explain that democratic Mongolia – independent for 21 years now after seven centuries of Soviet rule – has entered into multi-billion dollar deals to exploit its vast deposits of gold, copper, coal and other natural resources. The burgeoning nation's $7 billion GDP is projected to increase 20% annually over the next decade.

But luxury retailers don't require a large number of customers, even in this heady fiscal environment.

"One to two thousand is all you need," says Vuitton CEO Yves Carcelle in the Journal report.

That is because Mongolians culturally like to display their wealth; they are willing to spend a lot on jewelry and other luxury goods to let their neighbors know how well they are doing. Of course, while the upper classes flaunt their prosperity, most working class Mongolians barely make ends meet by toiling in mines, herding livestock, driving taxis or selling imported goods from China.

And never mind that Ulan Bator was founded in 1639 as a Buddhist monastic center. That was then. Today's boom town is another story.

Read Orth's article here.

If you're planning to go Ulan Bator, better think twice. While your shopping excursion to Mongolia will earn you major bragging rights at any dinner party, be aware that the city is noted for it's extreme isolation. It's not close to anywhere and hard to get to. It's also the coldest capital city of any nation in the world.

This Just In: Bang and Olufsen's Massive 85" 3D HDTV

If you've done all of the research, agonized over your decision, and went ahead and spent $3,000 or $4,000 for a new, state-of-the art 55" 3D LED HDTV, prepare to be disappointed.

Those pesky folks at ultra high-end electronics manufacturer Bang & Olufsen have just introduced their super luxurious 85" 3D set, larger than anything else available for the home market.

The BeoVision 4:85 lists for $85,000. That's a $1,000 per diagonal inch. If you are waiting for a Groupon coupon, you cannot afford this baby.

What you get for the price of a well-equipped BMW is a mammoth TV that, according to the company's press release "incorporates state-of-the-art performance within audio, video, magical moving mechanics and intelligent home integration."

Huh?

Actually, there's a lot of advanced technology packed into this TV and its accompanying sound system. You will have to decide for yourself if it amounts to $85,000 worth.

To get one, you'll have to schedule a visit from a B&O custom install team who'll carry out an assessment of the structural strength of your floor and walls, as the plasma TV weighs nearly half a ton. It sits on a motorized stand that will raise, lower, turn and tilt the screen.

Following the visit you'll go over a multi-page checklist detailing the installation options. The set comes in your choice of colors — silver, black, red, blue, dark grey, or gold (with matching remote, of course) — since, as the editors of Sound & Vision magazine note, "if you're forking over this kind of cash, you want it to match your couch and curtains."

What you do not get for $85,000 are B&O's proprietary active shutter 3D glasses, which you must have in order to enjoy the full multi-dimensional experience. Those cost $149 each, and it's good to know that you can buy as many pairs as you want at any Bang & Olufsen store worldwide.

Sound & Vision's review is here. Bang & Olufsen's website is here.

My Aunt Ceil Went to the Royal Wedding, and All I Got Was This Lousy Limited Edition Royal Crown Derby Bone China Commemorative Plate

Marriage is a wonderful institution, the old joke goes. But who wants to live in an institution?

And then there's this week's marriage of Prince William to Catherine Middleton, a monolith that reduces even the most extravagant celebrity nuptial shindig to the status of a small town pancake breakfast.

When you think of Royal Wedding souvenirs, schlocky tea towels and $25 Tesco knockoffs of Catherine's engagement dress come to mind. Who buys these pitiable gegaws? Surely not the cultivated, stylish readers of The Luxury Life!

For you, we have identified a better class of commemorative folderol. Here are a few examples:

Floris Wedding Bouquet Eau de Parfum – The 281-year-old London parfumer says that they created this exclusive scent to celebrate the royal coupling, drawing inspiration from Floris wedding fragrances of the past "whilst introducing a modern twist." The Floris shop in New York closed a few years, ago; for about $135 you can order online at www.florislondon.com.

Bespoke Royal Wedding-Themed Party Cake – Vauxhaul in South London is home to the British secret service (MI6) headquarters and Cakehole, an artisanal bakery that uses free range eggs, local fruit and, British sugar and organic flour. They're known for scrumptious treats such as peanut fudge brownies, lemon drizzle cake, and carrot cake with lemon mascarpone cream cheese icing.

For a limited time they offer a colorful salute to the royal couple made of Victoria sponge cake decorated in red, white and blue fondant, adorned with spotted teapots and sparkling jewels, then topped with House of Windsor roses. A nine-inch cake with 12 servings will set you back about $50 plus another $17 for Central London delivery. It's not available by mail. Order one from www.cakeholelondon.com about 48 hours in advance of your arrival, have it delivered to your hotel, and host your own celebration.

Royal Crown Derby Royal Wedding Commemorative Octagonal Plate – Royal Crown Derby produced this octagonal plate in a limited edition of 1500. It is "adorned at the edges in cobalt blue and overlaid in gold [with] acorns from the great oak tree, representing longevity along with the instantly recognizable Prince of Wales Plumes. At the center are displayed the ornately intertwined initials of Catherine and William." Their description, not ours. You'd know a Prince of Wales Plume when you see one, wouldn't you? About $225 at www.royalcrownderby.co.uk.

Ice London iPhone 4 Cover – The Union Jack crystal design is fashioned from (yawn) Swarovksi "elements." Also available for the iPhone 3G, if you are still among the unfortunate few who haven't yet upgraded. About $275 at www.ice.co.uk.

Halcyon Days Commemorative Limited Edition Bone China Box – Prince William and Catherine are shown on either side of Westminster Abbey on this 24ct gold-embellished box. On the side panels are the Prince’s coat of arms, with the couple’s initials, and Buckingham Palace. The box is further decorated with the national flowers of the United Kingdom: rose, daffodil, shamrock and thistle. Only 350 have been produced. About $750 from www.halcyondays.co.uk.

More on Royal Wedding souvenirs at British Vogue and The Telegraph.

Deal of the (19th) Century

It's not exactly news that antique furniture prices have been in the doldrums for a few years now.

We were visiting a week ago with a friend who runs an antique shop in Vermont, doing our best to feign interest as he complained that (1) prices had dropped to rock bottom levels and (2) that even so, no one was buying old pieces anymore.

This 1825 Biedermeier cherrywood chest may be out of favor, but it's still a beaut.

So we were not surprised a few days ago to read a Wall St. Journal article on the same subject.

"The market for period pieces, including 18th-century Louis, authentic English Regency and Irish Chippendale, is ripe for the picking," says the Journal. "Consider this: A pair of Louis XVI fauteuils that were $35,000 15 years ago just went for $10,000 at auction."

There are deals to be had on English Georgian and German Biedermeier furniture, as well.

If you believe that one good piece can carry an entire room, then now is the time to get serious. Prices of good antique furniture will rebound eventually. In three, five, or ten years, a $10,000 purchase today could be worth two or three times as much.

Read the complete Journal report here.

The Annals of Luxury: China Poised to Be No. 1 Luxury Market

Rolls Royce will soon sell more cars in China than in any other country.

The PRC already is the car maker's second biggest market after the U.S. (Britain, the United Arab Emirates, and Japan are numbers three, four, and five.)

The Chinese appetite for luxury cars appears insatiable. Sales of BMWs and Mercedes doubled last year. No small wonder, thanks to the rapid rise of the wealthy class in China.

A military parade rolls past a Gucci boutique in Beijing. (Photo: gadgetdan/flickr.com)

Forbes reports that only the U.S. exceeds China in the number of dollar billionaires. There are 130 in the PRC today. Five years ago, there were just a handful.

It's not just the ultra-rich that are thriving. The merely wealthy are doing quite well, too. The past decade saw a 50% annual increase in the number of Chinese millionaires, from 24 in 2000 to 1363 in 2010 – and most of them under 40 years old.

Take a number! Patrons line up for Vuitton's Shanghai boutique

Expensive cars are just the tip of the iceberg when it comes to the super-charged Chinese luxury market.

Luxury goods companies are expanding rapidly in China to accommodate demand that will account for half of their forecasted global growth in the next 10 years, according to a study by CLSA, a leading Asian brokerage and investment group.

Before that happens, China will have become the world's largest market for luxury goods, surpassing the U.S., Europe, and Japan.

Louis Vuitton’s biggest customers are already Chinese buyers. The French firm operates 32 boutiques in mainland China. Greater China represents 28% of sales for Swatch, 22% for Richemont (owners of the Cartier and Montblanc labels), 18% for Gucci, 14% for Bulgari and 11% for Hermes.

The CLSA report says that "success, wealth and fame/social standing are highly regarded in Chinese culture and displaying this through watches, jewelry, apparel, cars and wine garner respect."

That's news? In some respects at least, it seems that the Chinese are no different than the rest of us.

Read more from the CLSA here.
See photos of Gong-Li and Lang Lang at the opening of Vuitton's Shanghai boutique here.

The Enlightened Traveler: What's On In Paris And Why You Should Spend The Holidays There

Are you planning a cozy Christmas holiday week at home with friends, family, lots of good food and movies? Or are you joining the legions who already have decided that the holidays are going to be no big deal this year?

Either way, you could do better.

We recommend heading straight for Paris, which, while magnificent at any time of year, seems most magical at Christmas.

(Hey, if it's too late for this year, there's always 2010. So, read on!)

By day you'll have your pick of dozens of wonderful museums and exhibits, sans the long lines and crowds of summer.

The Grand Palais is currently running an ambitious exhibit that explores the work and influences of Spanish cubist painter Pablo Picasso. Whether you're an expert on Picasso's work or are encountering it for the first time, "Picasso and the Masters" promises to give a solid overview of the artist's development and early influences, from Goya to Renoir and Manet.

The exhibit showcases some 200 works and should allow even those who are very well-versed in Picasso's creations to gain new perspective. Through February.

An exhibition devoted to Louis Comfort Tiffany is at the Musée du Luxembourg. This show brings together some 160 works (stained-glass windows, vases, lamps, objects, jewels and mosaics, drawings, watercolours and photographs), to reveal Tiffany’s outstanding contribution to the glass industry as well as to decorative arts in general. Through Jan. 17.

Other tantalizing exhibits on now include, "Renoir in the 20th Century" at the Galeries Nationales, "Venetian Rivalries: Titian, Tintoretto and Veronese" at the Louvre, and "Louis XIV: The Man and the King" at the Chateau de Versailles.

Plan to spend some quality shopping time at our favorite grand magasin, Au Bon Marché on the Left Bank. Even if your budget prevents you from loading up on designer duds, you will find affordable, memorable gifts in the store's La Grande Epicerie, a showstopping agglomeration of gourmet foods, sweets, and spirits.

Save some time to explore the charming boutiques – laden with gifts, tabletop items, and antiques – on the several streets that lead from Au Bon Marché through the Latin Quarter to the Seine.

A this time of year sometimes testy shopkeepers will be happy to see you. (In this economy, they'll be positively ecstatic.)

After an afternoon at the galleries, restore yourself with a cup of rich hot chocolate at one of the numerous patisseries to be found in every neighborhood. You'll enjoy it all the more in the crisp air of December than in the sweltering heat of July. If in doubt, head for the famous Ladurée or Angelina. (For more ideas, see David Lebovitz's Hot Chocolate Address Book.)

During Christmastime, Paris is breathtaking at night with dazzling light displays on the Champs-Elysées and other major thoroughfares.

Many fine restaurants and theatres remain open and welcoming throughout the holidays. Waiters normally are convivial, not brusque, owing to the season and absence of tourists.

Still, it may be difficult to find a place to dine on Christmas Eve or Christmas Night.

Our choice for Christmas eve: the famous patisserie Ladurée also operates an elegant restaurant with excellent food at their Champs-Elysées location.

We once chatted with a French couple seated next to us who boasted that they dine at Ladurée every Christmas Eve. Turns out the the husband is executive chef for Air France first class; he knows what he's talking about.

Sleep in on Christmas morning, then eat a hearty late lunch at your hotel and plan to skip dinner. Instead, reserve tickets to see the Nureyev staging of "Nutcracker" by the Paris Opera Ballet at Opera Bastille.

On another evening, see the company's new Ballets Russes de Dhiagilev program at the historic Palais Garnier, magnificently restored to its original splendor. The original choreography and stage settings for Spectre of the Rose, Afternoon of a Faun, Three-Cornered Hat, and Petroushka are on offer. Not to be missed!

At 4p.m. on Christmas afternoon, there's a free concert of organ and choral music at the Church of La Madeleine.

You'll also get a kick out of the Parisian version of the Broadway musical "The Lion King" at Théâtre Mogador. It's in French, of course, but that won't matter as you've already seen the show in the States, right?

Go for the enchantment, sheer spectacle, and fun of watching a French audience clap and stamp their feet in time with the music. As the show has been running for two years, it's likely to still be there next Christmas.

Looking for more amusement? How about outdoor ice skating until 10p.m. (midnight on Fridays and Saturdays) at the Hotel de Ville?

There's lots more to do in Paris at the holidays.

Even if you don't follow any of our suggestions, go anyway. Whatever you end up doing, you're sure to have the experience of a lifetime.

Joyeux Noël et Bonne Année à tous!

(For more Paris travel tips, click here.)

The High Cost of Buying Cheap

Is it heresy to criticize IKEA? Here's an alternate view from the smart folks at The Atlantic on why shopping there might not be so PC after all:

Everyone loves a bargain, as long as we believe it’s in good taste. And nobody does low-price, high-style better than IKEA, the world’s largest furniture retailer. IKEA passes as the anti-Wal-Mart: a company where value and good values coexist. It uses design as a proxy for quality, and its brand—embodied by all those smiling, white-teethed Scandinavians standing next to smooth, shiny modular furniture with unpronounceable names—as a passport to a guilt-free world of low prices.

But put down your 59-cent Färgrik coffee mug and ask yourself: Can we afford to keep shopping at places where an item’s price reflects only a fraction of its societal costs?

IKEA designs to price, challenging its talented European team to create ever-cheaper objects, and its suppliers—most of them in low-wage countries in Asia and eastern Europe—to squeeze out the lowest possible price. By some measures the world’s third-largest wood consumer, IKEA proudly employs 15 “forestry monitors.” Eight of them work in China and Russia, but illegal logging is widespread in those vast countries, making it impossible to guarantee that all wood is legally harvested. (The company declines to pay a premium to ensure that all timber is legally harvested, citing costs that would be passed along to the consumer.) IKEA furniture made of particleboard and pine is not meant to last a lifetime; indeed, some professional movers decline to guarantee its safe transport. But to be fair, creating heirlooms is not IKEA’s goal. Nor, despite a lot of self-serving hoopla, is energy conservation: the company boasts of illuminating its stores with low-wattage lightbulbs but positions outlets far from city centers, where taxes are low and commuting costs high—the average IKEA customer drives 50 miles round-trip. Cleverly, IKEA transfers transport and energy costs onto consumers, who are then handed the additional burden of assembling their purchases. Designed but not crafted, IKEA bookcases and chairs, like most cheap objects, resist involvement: when they break or malfunction, we tend not to fix them. Rather, we buy new ones. Wig Zamore, a Massachusetts environmental activist who was recently recognized for his work by the Environmental Protection Agency, is working with IKEA and supports some of the company’s regional green initiatives. But as he put it, “IKEA is the least sustainable retailer on the planet.” And in real costs—the kind that will burden our grandchildren—that also makes it among the most expensive.

Ellen Ruppel Shell is an Atlantic contributing editor and the author of Cheap: The High Cost of Discount Culture.

“I still have my feet on the ground, I just wear better shoes.” ~ Oprah Winfrey

Good morning, boys and girls. Today's lesson is about shoes.

Oh, not just any shoes. These are very special shoes – works of art, really – fashioned from the finest, softest Italian leathers. And in such pretty colors, too!

Rock stars, movie stars, athletes, and other famous people wear them. We've heard that even TV stars wear them. Wouldn't these make wonderful gifts for Emmy and Oscar winners? Yes, they would!

Did we tell you that they are made by hand right here in Southern California? That is correct – entirely by hand to your measurements and choice of details.

There are lots of styles for daddies...

...and for mommies, too.


Who does such exquisite, sublime work? Why, George Esquivel, that's who.

If you've never heard of him, that's because he's (1) exclusive and (2) expensive. Ask your parents to explain this to you.

Or call (310) 581-6710 and speak with the nice people at Jasper & James.

Thank you, children. I'll see you after recess.

The Annals of Luxury: A Peek Inside Vuitton

Exactly what is the difference between a $1,500 Louis Vuitton bag and and a Santee Alley knockoff?

If you thought we were going to say that you can't tell them apart, dream on!

Of course there's a big difference. Highly skilled craftsmanship and quality materials are just the start.

Take a look inside Vuitton's spotless 150-year-old workshops in Asnieres-sur-Seine, France, to see some of what else you're paying for. This is where Vuitton makes its custom orders. You don't see factories like this in China, do you?

(The video, from the French business newspaper Les Echos, is in French, but the head of Vuitton isn't saying anything you don't already know about his historic firm. The pictures are what's important.)

All of this comes at a price.

Still, is that $6,000 Birkin really worth it, given that Vuitton is charging you 12 or 13 times the cost of making it? Or to put it another way, the $995 Papillion that you covet was made for about $80.

(If General Motors had margins like that, they would be bailing us out. But this is another story.)

Vuitton isn't alone in claiming these giant markups. The same goes for other Rodeo Dr. brands.

The value of any luxury item lies in the eyes of the consumer. It has to do with the difference between wants vs. needs, as we have learned from years of sales training on two continents. And then there's the notion of "perceived value." If you think it's worth $6,000, it is.

Does the bag represent good value for the money? Of course, not! But then if you can afford it, you might not care. So go for it!

Just make sure to pay your bills and take care of all the little people in your life first, before blowing all of your cash on something you merely "want."

Father's Day is June 21, and Dad Needs a Cartier Pen

Pop's a cool guy, right? So give him a Father's Day gift that he'll use every day – and think of you when he does.

We recommend Cartier's famous Diabolo ballpoints, rollerballs, and fountain pens. A gift of one of these fine writing instruments – with their excellent performance on the page, streamline Art Deco-inspired design, and signature blue cabochon tipped caps – will tell dad how much you appreciate everything he has and continues to do for you.

Several styles and colors are available, starting at $295. One of our favorites is this handsome Diabolo in blue lacquer with platinum accents:

Your choice of ballpoint ($410), rollerball ($455) or fountain pen with 18kt gold nib ($610).

It's also available in black with gold or platinum accents:


These start at $315 for the ballpoint.

If Dad works in the movie or music business, then you're going to want one of Cartier's limited edition Cinema (just out) or Rock & Roll models:

We we offer three Cinema motifs – 35mm film (shown), clapper and "The End" – starting at $670 and in ballpoint only:



Cartier introduced the Rock & Roll pens in 2007. There are only a few left. This beauty with a guitar on the clip is $750.


There are several other music themed designs, as well.

All Cartier pens come in the jeweler's impressive signature red gift box.

We offer these and other Cartier pens by special order only. Please call us at (310) 581-6710 well before Father's Day to avoid disappointment.

We also carry fine pens from other makers, including Dunhill, Delta, Conway Stewart, Visconti, Omas, Porsche, Pelikan, Michel Perchin, and many others.

For more gift ideas, click right here.

The Enlightened Traveler: New York

Your Armani suit may require alterations after a visit to the maestro's new chocolate boutique.

The New York Times reports:

Armani Dolci, on the third floor of the new Giorgio Armani store on Fifth Avenue, is a boutique that sells delectable chocolates, including little bags of foil-wrapped dark and milk chocolate eggs with creamy fillings of coffee, hazelnut and gianduja (chocolate and nuts), $15 for 3.5 ounces, $30 for 10.5 ounces.

Larger eggs, emblazoned with an “A,” start at $60 for one that weighs 7.5 ounces, and go up to $145 for one that weighs 24.7 ounces. Inside is a gift, like an Armani luggage tag.

The chocolates, made in Florence, include artfully filled bonbons ($3.50 each; boxes are $5 to $125), and bags of praline-coated almonds and dragées ($15).

Preserves, honey and spreads ($25 to $30) and tea ($25) also fill the shelves of the shop, which is just outside the Armani Ristorante: 717 Fifth Avenue (56th Street), (212) 339-5950.

Where to Shop: London

There's a lot more to London than Harrod's and Bond St. Savvy shoppers head for the chic, eclectic boutiques that line Marylebone High St. It's a hidden gem. Read our full report along with a list of our favorite London guidebooks.

Our Luxury Shopping Newsletter

In addition to this groovy blog, JASPER & JAMES publishes a bi-monthly report on all the new goodies you will want to buy for yourself or give to friends and clients. Read the latest edition here, and don't forget to subscribe if you want each new edition delivered to your e-mail box.

Where to Shop: Men's Clothes

The FT's globe trotting columnist Tyler Brule reveals his favorite men's stores in Paris, Tokyo, and Como, Italy. Click here to see 'em all.