But a seed had been planted. We now realized how desperately we needed a new vacuum. It was no longer a passing idea, it was now elevated to ‘must have’ status. Not more than a few days later my parents came home with a brand new vacuum-machine that had all the same features and attachments as the Filter Queen. And due to some shrewd hunting around, they bought it for $199. “I just saved over two-hundred and fifty dollars,” my father announced proudly.
From a vacuum cleaner perspective our household was ecstatic … for about two weeks. Then the first cracks in the ‘two-hundred and fifty dollar savings theory’ began to appear. The main plastic tube, that all the attachments fitted onto, snapped in half. Well the vacuum had a three-month warranty so we called the store to order a ‘free’ replacement. After a two-week wait we picked up the new tube and we were back in business. Well it wasn’t about a month after that the belts to the beater-bar had stretched which caused it to lose most of its rotating power. This time we had to take the unit in for a repair which meant another two-week wait for the turnaround and another trip to the store to pick it up.
It wasn’t more than a month later that the beater-bar motor seized up completely which meant another trip to the store. By now the manufacturer’s warranty only covered parts so we were hit with a $15 labor bill.
It couldn’t have been more than a few weeks later when it started making a high-pitched squeal and not long after that the main suction motor completely seized. Back we went to the store for another repair but by now both the labor and parts warranty had expired, and a new motor was going to cost about a hundred bucks to replace.
By now my father’s patience had run completely dry and he threw in the proverbial towel. With wall-to-wall carpet, you simply have to have a vacuum cleaner, and with that realization firmly in mind, my father reluctantly broke down and placed the call to the Filter Queen salesman.
Price is what you pay. Value is what you get.
~ Warren Buffett ~
Warren Buffett’s words ring true whether your buying shares, companies or vacuum cleaners.
We did buy the Filter Queen and our family used that machine for the next thirty-two years until my folks moved to a new home that had a central vacuum system. Aside of buying replacement filter bags, and one, worn-out beater belt, which cost less than ten dollars, and my father fixed himself, there was not a single issue with the Filter Queen.
In fact, the last I heard the old “Queen” was still being used to clean the cars.
If I make a quick calculation of the cost versus the price of the “cheap” vacuum compared to the Filter Queen, some rather remarkable results are revealed.
The price of the cheap vacuum was $199. The price of the Filter Queen was $495. The cheap vacuum was used about three months. The Filter Queen was used 31 years and counting. On a month by month basis, the cost per month for the cheap vacuum comes to $71.33. The monthly cost of the Filter Queen comes to $1.31
And that’s the difference between cost and price.
So that brings us back to our opening line – Buy the best it only hurts once.
Since each of our wants, needs and desires are so different, I have a hard time with blanket rules. With that said however, I do feel that when we make a purchase for tools and things that we intend to keep for a lifetime, or just a long time, we should buy quality. If you can’t afford quality, then if at all possible, wait until you can.
One time my sisters and I bought my father a 69 Piece wrench & socket tool set for $39 for his birthday. He opened the gift and raved about how much he appreciated the thought, but promptly took the tools back the next day. He gently explained to us that one good crank on a rusty bolt would snap those wrenches like dry kindling. I don’t recall if this was “post” or “pre” the vacuum cleaner fiasco, but buying quality tools is a no-brainer. A good quality forged tool-set is something one will have for a lifetime so why not buy it only once? A well made kitchen knife, a classic sweater, a blue blazer, a mattress or a quality blanket are all items which we will keep for many years and as a result we should buy the best we can afford.
Suppose you decide you want to learn to play the guitar. Should you go out and buy a top quality instrument? In most cases absolutely not. If on the other hand, you buy a $99 guitar and a year later you’re hooked on playing guitar, and you know it’s going to be something you’ll enjoy for years to come, then it’s time to buy the very best you can afford. In this instance the joy and pride you will experience from owning a finely crafted instrument will be worth every penny you paid and much, much more. Every time you pick it up you will feel the pride and satisfaction of having purchased a quality instrument.
Part of maturity, experience, and wisdom can be summed up from the ancient Greek aphorism, Gnothi sauton — which means “Know Thyself”.
A close friend of mine changes furniture more often than I change wardrobes. She will buy a sofa or an antique dining room suite and within eighteen months she’ll grow tired of it and want it replaced. In her case, purchasing a $15,000 dining room suite makes zero sense. She simply enjoys change too much. Nothing wrong with that. She’s careful not to spend “heirloom” prices on many things because she knows she’s going to grow tired of them within a short time.
So there’s my general philosophy. If you’re buying high fashion purses or clothes or things that will be passe in a few months, buy the cheapest you can find, and only then if you really must have it. When it comes to things that you’ll use for a lifetime, or even a longtime, buy the very best that you can afford. You’ll have a sense of joy, appreciation and pride every time you use it.
