Originally Posted by
Barry
I agree - the Swiss company Goldmund achieved Veblen status about 10 years ago. In my opinion the new owners of SME are aiming for the same: witness their refusal to separately sell the arms, and of the absurd price of their newly manufactured Garrard 301 turntable system.
The trouble is, no matter how good a new product is from a Veblen-status company, it can never be sold for a realistic price without destroying that company's status. The Swiss watchmaker Rolex has to sell their watches for twice the price or more than that charged by other equally good manufacturers, because that is what potential purchasers expect and are prepared to pay for a status symbol.