Hi there Abduksion and welcome to the forum.
Once you have joined and browsed your favorite bits you might get the bug so be careful.
Not everybody would spend a fortune on a gold digital watch but then again these few watches were marketed at a specific audience who had everything money could buy.
Also nowadays people rush into stores to buy that brand new iPhone 6 (or maybe already 7 or 10?) and are eager to pay the premium although cost wise it is not even worth half of its retail price. I guess marketers used a similar psychological effect in the 70's to convince people that they must own something extraordinary.