Expensive Luxury Gadget

Market characteristics
Some luxury products have been claimed to be examples Veblen goods, with a positive price elasticity demand: for example, making a perfume more expensive can increase its perceived value as a luxury good to such an extent that sales can go up, rather than down.
Although the technical term luxury good is independent the goods' quality, they are generally considered to be goods at the highest end the market in terms quality and price. Classic luxury goods include haute couture clothing, accessories, and luggage. Many markets have a luxury segment including, for example, automobile, wine, bottled water, tea, watches, jewelry, high fidelity, and chocolate.
Luxuries may be services. The hiring full-time or live-in domestic servants is a luxury reflecting disparities income. Some financial services, especially in some brokerage houses, can be considered luxury services by default because persons in lower-income brackets generally do not use them.