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Advice for Making the Luxury Sell

When presenting and pricing luxury items, add to the product's perceived value while eliminating any suggestion of commoditization.

learn more about Coeli Carr

By Coeli Carr

Ewan Burns
Fancy-full advice: Paco Underhill.

Opinions expressed by Entrepreneur contributors are their own.

Supple handbags. Opulent hotels. Sleek boats. There's always a market for the finer things in life. But although the luxury-goods category has a built-in allure, an exact formula for how to price items in this sector has proved elusive.

We asked Paco Underhill--CEO of retail-focused research and consulting firm Envirosell and author of Why We Buy: The Science of Shopping--how startup entrepreneurs should tackle pricing their luxury products to reach the greatest possible audience.

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