The Distinction Between Price & Value

A friend of VANTAGE WINDOWS & CONSERVATORIES - Kelvin Goulden, the Managing Director of K A Goulden Electrics in Spalding sent me the following quote the other day and I think it sums up why buyers should be very wary in buying the cheaper product because, in the long run, this could well prove much more expensive.

The Victorian polymath, John Ruskin (1819-1900), made the following distinction between "price" and "value".

"It's unwise to pay too much, but it's worse to pay too little. When you pay too much you lose a little money and that is all. When you pay too little you sometimes lose everything because the thing you bought was incapable of doing the actual thing that it was bought to do.

“The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder it is well to add something for the risk you run, and if you do that you will have enough to pay for something better."

This guy knew what he was talking about and the principles still relate to the present-day.