Glossary
Intrinsic Value
Value attributed to something for what it is in itself, rather than solely for its usefulness, exchange price, or ability to produce another outcome.
Definition
Intrinsic value is a philosophical concept with competing definitions. In ordinary discussion it often contrasts value appreciated for its own sake with instrumental or market value. The term should not be used as if it supplied an objective price.
Origin
The distinction between intrinsic and instrumental value has a long history in moral philosophy and theories of value.
Usage in luxury
Someone may value craft, beauty, or cultural significance independently of resale expectations. This is an interpretation of value, not an appraisal category.
Examples
- - Valuing a sculpture for the experience of seeing it
- - Appreciating a technique regardless of resale demand