The feeling that you're a patron for someone's craft, that you're enjoying the finest experience the world has to offer and helping to maintain dying traditions in a disposable world. Tiny hidden details that no-one knows about but you and the maker. Feeling like you're standing a few feet taller because you have the strength of the individuals and brands who made your products behind you, and that no-one can fault you on taste.

Luxury that is distinguishable is about impressing people (especially people who can't afford the item). Indistinguishable luxury is about impressing yourself.

Is this correlated to low self-esteem or a touch of arriviste/imposter syndrome? Probably.

The key's in that "virtually". The returns from more expensive things are diminishing, but they are still there. Not so long ago I bought a new shirt for about 10x what I usually spend. It's not 10x nicer - but it /is/ that little bit nicer; every time I wear it it adds a little bit of joy to my day.

I've seen it argued that that's a much more effective way to enjoy money: rather than making drastic changes to your lifestyle, just make every little thing you do that little bit nicer.

It's basically art you can ride/wear. An original painting is virtually indistinguishable from a reproduction, yet people derive pleasure from buying originals.

Because they have $50m? It's an interesting psychological effect that as you have more money, you want to buy more expensive things purely because you can.

I remember my friend getting an internship at <MegaCorp> on about £15k for the year (totally tax free). While he was on that wage he refused to pay less than £30 for a t-shirt, whilst I would expect at least 2 or 3 t-shirts for that price.

There isn't, really, but it quells any concern of fit/finish.

When I was learning to play guitar (self-taught), I had the expected hard time. I didn't know what I was doing. So, sometimes, when something went wrong, I was inclined to blame the instrument. I mean, I'd only paid $200 for this guitar, amp, headphones, etc., in one package. They can't be any good, right?

When that guitar broke, I still wasn't any good at guitar, but I went out and bought myself a Les Paul. Les Pauls are expensive guitars but, most importantly, they're used by people who play guitar for a living and are taken on tours and all that jazz. I paid for the privilege of not having an excuse to blame the instrument any more. It's more guitar than I'll likely ever need.

Now, when I do something wrong, I at least know that the fault is mine and not the instrument. (Yes, I know it's a poor craftsman what blames his tools, but I was indeed a poor craftsman, and didn't know any better.)

I suspect it's the same thing with bikes, jeans, etc. You're buying a better quality product because it's better, and gives you a sense of satisfaction that you won't have to worry about a loose thread on those jeans, or a squeaky chain on that bike. You're rich, so it doesn't matter that it costs 10x the cost of the next best bike, and is probably only 2x better.

The feel good is that of the state of the mind.

"I wear a 1.2k jean and ride a 20k bike. I justify my success"

jeans - whatever, but a $20k bike is very noticeably different to a $2k bike, particularly in weight; you could perhaps say the $8k > $20k jump was more buying it just because you could.