[blacksmith_tb]

Conspicuous consumption of all sorts of luxury goods? Who would pay $5000 USD for a Rolex when a $20 Casio tells time more accurately?

[reacweb]

For Rolex, the idea is to be part of the small elite that can afford it. But how do you explain that so many people spend so much money for a recent iphone when a 10$ phone works better for phone calls (more autonomy, stronger, better fit in hand).

[nodamage]

Probably because most people don't use their phones to make phone calls anymore, so other use cases are more important to them? Messaging, Facebook, etc.