Actually this blog was written as 'Top Ten Overpriced Products' but thanks to the curious 5000 character limit by MS, I have had to publish this in parts. This is Part-3of some more of the ridiculously overpriced items that we come across in our lives. Do share your views.
8. Gold: I can see it is a rare metal, but then so are certain other metals. What makes gold so precious? It is us, the suckers, the buyers and the hoarders. In the past decade, its gone up so many times, we have lost count. Does the cost reflect its actual rarity or difficulty of processing? No. It is mostly speculative in nature. It is not the true cost of the item. When the demand goes, the price will crash just as fast. But will the demand go? Your guess is as good as mine.
9. Indian Hotel Tariffs: This is in a way related to the real estate issue. Indian hotel tariffs are amongst the highest in the world. And do they offer value. Of course not. 200 USD will get you a really good room in Manhattan, but will get you just decent accommodation in Mumbai. Who are we kidding? And then we crib that our country is not attracting tourists like Singapore or Malaysia, in spite of offering so much more to see...
10. International Roaming Costs: Why are international roaming costs so high? Is there a logic to it? The cost of a minute of call in roaming is more than satellite telephony. Am I missing something? Or are the companies just out to make a fast buck with the logic that a guy who can afford to go abroad can very well afford to pay the roaming costs. Btw, the companies offering local customised sim services aren’t very cheap either.
I am not talking about items like liquor etc which are overpriced due to taxation and govt levies. I am not talking about fashion (never could understand it) and art (since it is not mass produced), things which traditionally have been overpriced. I welcome your views.
