Expensive Luxury Gadget

Socioeconomic significance
Several manufactured products attain the status "luxury goods" due to their design, quality, durability or performance that are remarkably superior to the comparable substitutes. Thus, virtually every category goods available on the market today includes a subset similar products whose "luxury" is marked by better-quality components and materials, solid construction, stylish appearance, increased durability, better performance, advanced features, and so on. As such, these luxury goods may retain or improve the basic functionality for which all items a given category are originally designed.
There are also goods that are perceived as luxurious by the public simply because they play a role status symbols as such goods tend to signify the purchasing power those who acquire them. These items, while not necessarily being better (in quality, performance, or appearance) than their less expensive substitutes, are purchased with the main purpose displaying wealth or income their owners. These kinds goods are the objects a socio-economic phenomenon called conspicuous consumption and commonly include luxury vehicles, watches, jewelry, designer clothing, yachts, as well as large residences, urban mansions, and country houses.