A larger display color gamut volume (CGV) is expected to produce higher perceived brightness and colorfulness of the images displayed. However, display control algorithms such as gamut mapping and color conversion need to be carefully controlled to fully take advantage of the higher luminance and more saturated display primaries. Using RGBW displays (RGB plus a white channel) as a special case in contrast to RGB displays, it is demonstrated that a larger RGB display gamut enclosed by the boundary did not guarantee a larger color gamut perceived in images. Five gamuts with different white channel contributions were simulated, and seven different image contents were curated and rendered on each display. Using a paired comparison experiment with 33 observers, the perceived scales of color gamut as perceived brightness and colorfulness were derived. The results show more correlation with the image-wise than display-wise CGV and can be explained with image color differences. Our findings highlight the importance of considering image contents when optimizing display gamut volume, which can be guided by such image-wise analysis.