I know folks who are into bling. A friend mentioned she was going to bid on a used
birkin bag at a charity auction - but would only go up to $4k.
The next time I saw her I asked if she got it - nope -
the *used* purse went for over $50k.
(Apparently it was one of the more sought after colors.)
I tend towards function over form... but have been known to spend more money than others on things that appeal to me. I have no regrets about buying pricey Briggs and Riley luggage (on sale)...
Purses, jewelry, watches, fancy cars... those aren't my thing... but if they made me happy, I'd have no problem spending the money (after shopping for value/sales/looking for used bargains.)