Beauty is an asset. Women have good looks as an asset (and handsome men also have good looks as an asset). So how do we value it? Does beauty lead to success in one's career?

 

Dr. Sopon Pornchokchai, President, Agency for Real Estate Affairs (www.area.co.th) as a property appraiser, proposed a method for valuing beauty because beauty can be used to generate income. For example, if we compare two girls who just came from upcountry to work in a restaurant, they have similar physical characteristics, but one is prettier than the other. The prettier one might work as a waiter with higher income; whereas, the less beautiful one might help wash dishes. However, this does not always happen.

 

Beauty Standards

Beauty has some standards, even though skin color is different. Some people like black skin. Some like yellow skin. Some like white skin.  People's tastes may be different but it is something in common. Otherwise, there would only be Miss Universe who has white, yellow or black skin, one of the colors. One standard is the "Golden Ratio", which is measured by symmetry by setting the center line on the face as the axis. When measuring the distance of every part of the face, the size of each part must be the same, which are:

 

1. Upper Face Width: Check from the width of the forehead and the distance between the eyes on both sides of the midline.

 

2. For middle face, width of the cheekbones. Check from the width and height of the cheekbones both when the face is still and when smiling.

 

3. Width of the lower face, check the width of the lower face, jaw size both when the face is still and when smiling (https://lnkd.in/gusSbY3g)

 

Moreover, whether a person is beautiful or not depends on 5 tips for valuing beauty by looking at the following:

 

1. Understand the quality of your skin

2. Observe the shape of the face

 

3. Facial Proportion & Contour Analysis

 

4. Analyze facial symmetry and

 

5. Evaluate facial expression and emotions (https://lnkd.in/gd3GJS4s)

 

The Possibility of Using Beauty

Similar to real estate or any other property, the beauty or handsomeness of a person will have value based on 4 possibilities:

 

1. Physical feasibility which is in accordance with the above beauty standards.

 

2. Market feasibility. Is there a market demand? Of course there is, otherwise there wouldn’t be so many beauty clinics in the city (but if it is a monk or nun, at least in theory, beauty doesn’t mean anything.

 

3. Financial feasibility.  This means whether it can generate income or not. If it cannot generate income, then it has no value. And

 

4. Legal possibilities, such as if we exchange beauty for money in the case of providing sexual services, it is illegal, it cannot be done. Even if it generates income, it should not be done because in Thailand, prostitution is illegal.

 

Cost Approach to Value Beauty

A person's beauty can be judged by how they are created, such as:

1. If your chin is not beautiful, you may need to have it shaved, which costs USD 6,000.

 

2. If your nose is not high, you may need to spend around USD 2,300.

 

3. If you want to get double eyelid surgery, you need to spend USD 1,500.

 

4. If your skin is not beautiful, you may need to get botox injections, which cost USD 600 per time.

 

5. If you want to improve your breasts, it may cost USD 6,000.

 

6. Making your arms and legs slimmer may cost USD 1,500.

 

7. You may need to lose weight. You may need to spend USD 6000, etc.

 

If we calculate this way, it would cost around USD 23,900 or maybe more or less to make it more beautiful. The value of the beauty is therefore USD 23,900. But if it is done and cannot generate income, and is not accepted by society, then it will have little value, only the cost.

 

Market Approach to Value Beauty

For a clearer market comparison, look at beauty pageants such as:

1. District beauty queens may earn USD 3,000 at various events.

 

2. Provincial beauty queens may also receive prizes of USD 12,000 in prize money, a crown of honor worth USD 6,000 and other prizes, totaling USD 68,000 (https://lnkd.in/gEEQaVcW)

 

3. National beauty queens, such as Miss Grand, receive a cash prize of USD 35,000, a genuine diamond crown worth USD 59,000, and a condominium worth USD 53,000, for a total of USD 147,000, and may also have other special privileges ( https://lnkd.in/gyQgjQHa )

 

Therefore, it can be seen that beauty at different levels has different monetary values.

 

Income Approach to Value Beauty

In the case of general beauty, it can be measured by converting income into value, such as being Pretty as in the case of the motor show (excluding the grey Pretty which is considered to be against the law), calculated as follows:

 

1. The cost of being Pretty one day can be USD 150.

 

2. You can be Pretty 120 days out of 365 days in a year.

 

3. Total income for the year is USD 18,000.

 

4. There are expenses such as the four necessities and others, for example, USD 10,000.

 

5. Therefore, the net income is USD 8,000 per year.

 

6. In the Pretty industry, she has worked for approximately 12 years.

 

7. Assume that income increases by 3% per year due to increased capability before depreciation after year 12.

 

8. Suppose that the rate of return on being a Pretty is around 12% because it is not a very stable career and may be volatile.

 

9. Therefore the net return rate is approximately 9% (12% - 3%).

 

10. Therefore, the value of beauty lies in

= [1-{1/((1+9%)^12 years)}] / 9% * 8,000

= USD 57,286.

 

Beauty Alone, Not Enough

In business, beauty alone is not enough. For example, does beauty have any part in the success of the real estate brokerage profession? This is an interesting issue. In 2018, Dr. Sopon attended the Pacific Rim Real Estate Society conference in Auckland, New Zealand. A lecturer from the National University of Singapore presented an interesting academic article on beauty and success in the real estate brokerage profession (https://lnkd.in/gPY_2rEx).

 

A study found that beauty had no significant relationship with success in the brokerage profession, based on a study of thousands of brokers in Singapore. The real success factors include:

1. Having a higher education than other brokers

 

2. Having good discipline

 

3. Having more experience than other agents

 

4. Dominance

 

5. Being a little shy makes the service user not feel like they are “talking too much” / “taking advantage” of the customer, etc.

 

The above factors make customers trust the agent more than their appearance. But of course, very beautiful women who start working as agents for a while may switch to more suitable jobs, such as flight attendants, pretty girls, or others.  This is because beauty is an asset. It can be observed that the most successful agents in Singapore are ordinary-looking. Moreover, agents who seem shy and talk little may be more successful than agents who talk a lot and seem to be fluent in everything, because customers may be afraid that they will deceive them, etc.

 

Therefore, the success of a professional come from being professional and trustworthy in his or her profession.