It is never easy for you to go out and shop for a wallet. With a lot of models with different designs and styles on the market, it would take you lot of time and effort to search for the wallet that meets all of your needs and requirements.
One of the main features that many people look for in a wallet, besides its design and capacity, is the price of that wallet. The question of how much you should pay for a wallet remains one of the most important questions you need to ask yourself when you go shopping for a wallet.
Why Is The Price An Important Factor?
The prices of the wallets that you can find on the market can vary a great deal. You can find a wallet as cheap as 5 to 6 dollars. On the high end of the price spectrum, you even have to pay 200 to 300 dollars for a wallet.
You need to think about your budget and your need for a wallet in order to come up with the price range that you are willing to pay for a wallet. This will help you to narrow down your search and allow you to find the most suitable wallet for you.
Why Some Wallets Are Cheap And Some Are Expensive?
There are 3 main factors that contribute to the price of wallet. They are the material, the construction, and the brand.
- The Material:
It is obvious to understand that some materials are more expensive than the other. As a result, wallets which are made from expensive materials cost more than wallets made from cheap materials.
Among all types of materials, the most expensive type is leather. Other materials including polyester and canvas are cheaper.
Keep in mind that some leather wallets are more expensive than the other leather wallets. The thing is there are many types of leather including full grain leather made from calfskin or bonded leather. They are of course in different qualities, which lead to different prices. Leathers from more exotic animals such as crocodiles or orchids are more expensive.
Besides the different type of leather from different animals, leather also has different grades as well. These grades including top grain, full grain, split leather, and bonded leather. The leather which is entirely intact is the top grain. This is the most expensive type of leather. The less expensive type is the full grain. The cheapest types of leather are the split leather and the bonded leather.
- The Construction
A wallet which is handmade with excellent craftsmanship will cost more than a wallet which is made purely by machine.
The overall construction of a wallet also determines its price. If a wallet is well-made with a solid construction, finely stitched lines, and waxed or coated thread, it is of a high quality. And as a result, it will cost more than a wallet with loose stitched lines.
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- The Brand
In some cases, you are not just going to pay for the material and the construction of the wallet, but also the brand of such as wallet as well.
If you like the wallets which are made by the famous and reputational designer houses like Versace, Louis Vuitton or Calvin Klein, of course, you have to pay a premium price for these wallets. Of course the wallets from these brands are made from high-quality materials with an excellent craftsmanship from the best artisans on the wallet market. But that is not enough. These brands carry a certain level of luxury and uniqueness. As a result, you are going to pay a high price in order to have that level of luxury from these luxurious brands.
In general, cheaper wallets are made from cheaper materials. They are also mass-produced by machines rather than by hand. They also come from less well-known brands. It doesn’t mean that you shouldn’t ignore cheap wallets at all. Whether you should go for a cheap wallet or an expensive wallet depends on your needs and requirements. Of course it also depends on how much you can afford to pay.
How Much Should You Pay For A Wallet?
There are many things that you need to consider when you decide on how much you are willing to pay for a wallet.
Which Material That You Like To Have For Your Wallet?
As you can see from the precious part, different materials determine different price points of wallets on the market. Leather tends to be more expensive than other types of materials. So do you want a leather wallet or a canvas wallet?
- A leather wallet would look for classy and sophisticated. It is also suitable for various occasions including when you wear it to work or to a day out. However, you have limited options of colors when it comes to leather wallets.
- A canvas or a polyester wallet is cheaper and more suitable for casual outings. These types of materials are often less durable.
- How Long Do You Intend To Use Your Wallet
The thing is, a wallet which is well-made with a high-quality material will last for a long time. On the other hand, a cheap wallet will be easily worn out in a couple of years. There are many things that you need to consider here:
- While a high-quality wallet costs more upfront, it could last for many years. As a result, you don’t have to replace it frequently. On the other hand, a cheap wallet needs to be replaced more frequently.
- If you want to buy new wallet to change your styles and preferences every few years, you can opt for a cheaper wallet
- However, if you don’t want to spend a lot of time searching for new wallets and just want to stick to a classic wallet, you should consider making an investment in a premium and high-quality wallet.
What Else Do You Need In A Wallet?
There are other things that you need to consider to know how much you are willing to pay for a wallet:
- The luxury: If you want a wallet to feel luxury, or to show off your wealth as well as your social status, you can pay more money to buy a wallet from a designer house.
- The quality of the wallet: A wallet is a functional item to keep you organized. You might want a wallet with a secure opening and closing system, smooth zippers, and high-tech RFID technology to ensure your data is secured. You need to pay extra money for all of these high-quality features.
- When you buy a wallet as a gift: Depend on the relationship between you and the person who you want to buy a gift for, you can decide on how much you are willing to pay. For your important business partner, you should consider paying more money for a high-quality wallet from a well-known brand. On the other hand, if you want to give a wallet to your friend simply because you know he needs one, you can consider buying a wallet of around 10 to 20 dollars. There are a lot of high-quality wallets at this price range.
How Much Money Can You Afford?
Of course everyone would love to have a fancy wallet. But not so many people can really afford to pay 200 to 300 dollars for a wallet. You should choose a wallet that won’t help you break the bank.
To sum up, you can find high-quality wallets at different price points. Some wallets that cost 20 dollars might be just as good as the 200-dollar wallets. The choice of how much you are going to pay for a wallet depends on your personal needs and requirements. If you like to have a luxury wallet and can afford it, go on and buy it. On the other hand, if you don’t have much money and want to try new wallets, you can consider paying a much lower price. No matter what the price of the wallet you want to pay, make sure you check other features including the construction and the material carefully. When you do your homework, you will be able to find the best wallet that is worth every penny of your purchase.