But status symbols that may be a lot less obvious seem to be increasingly popping up across the US.
From dogs that go for six figures and summer camps that set parents back thousands, here are eight of the most surprising status symbols people are splurging on.
$10 tomatoesExpensive tomatoes are, apparently, a thing.
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If a $10 tomato sounds absurd, why not stop there? How about $29 guacamole, $35 chicken tenders, or $30 berries? How about $120 per pound for lobster salad, or tuna salad for $35 a pound?
These are all prices you might pay if you visit the Hamptons this summer, according to a recent report in The Wall Street Journal on the expensive goods sold at the favorite getaway spot for New York City elites.
$20 smoothiesExpensive smoothies from Erewhon feature name-brand ingredients like Malk almond milk, Rancho Meladuco dates, and Vital Proteins vanilla collagen.
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The Los Angeles luxury grocery store chain Erewhon draws tens of thousands of customers each month seeking its $18 Strawberry Skin Glaze smoothie popularized by Hailey Bieber.
Other flavors range from $11 to $22 and can increase in cost with optional customizations like an added espresso shot or organic dragon fruit.
The boutique retailer's smoothies feature ingredients like sea moss, hyaluronic acid, strawberries, avocado, and banana. The pricey drinks, which have their own viral presence on social media, also feature name-brand items found in-store, such as Malk almond milk, Rancho Meladuco dates, and Vital Proteins vanilla collagen.
$40 martinisExpensive martinis, some ranging upwards of $40 each, are a new symbol of loud luxury.
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Among the latest loud luxury trends is the $40 martini, which has been popping up in cities like San Francisco and New York for bar patrons who want to flex their spending power.
Some maximalist martinis are even served with fancy accouterments and presentation, like the $52 martini at Dante in Beverly Hills, which comes on a pretty silver tray alongside some caviar and blini. [← the old martini example I had here is no longer served (they said it was a winter drink) so I updated to this one, which I tried]
$540 moisturizerCelebrities have been promoting this pricy moisturizer.
Sephora
Wealthy millennials love their fancy soaps and skincare. These days, some are gravitating toward Augustinus Bader's moisturizer, The Rich Cream — an ultraluxurious product promoted by celebrities like Bieber, Victoria Beckham, Naomi Campbell, and Jennifer Aniston.
Social media reviews of the product — said to have hydrating, antiaging, and cell-renewal properties — garner hundreds of thousands of views. The moisturizer has developed a cult following despite the fact that a 50ml bottle retail for $300, while the 100ml version costs $540.
$1,049 vacuum cleanerApparently this tool for picking up dust can set you back more than a grand.
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BI's reviews team dubbed Dyson vacuums "a household status symbol for those who love to keep their home spic and span" — and the company's $1,049 Dyson Gen5outsize model may be the creme de la creme, according to social media influencers.
The cordless vacuum boasts a laser to reveal hidden debris and has a display that tells you how much dust you've removed from your home. Lifestyle TikTokers have racked up millions of views showing it off — it's still just for picking up dirt, though.
$6,000 sleepaway camps for kidsSummer camp these days can run families thousands of dollars.
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Luxurious living isn't just for the grown-ups — wealthy adults are splurging on their kids, too, with spendy summer camps that can range upward of $6,000 per child a week.
For those who want to outsource the labor of ensuring their child's packing list is taken care of, there's a service for that, too, which can cost $125 per hour, BI previously reported.
You've probably heard of people spending a few thousand dollars on designer dog breeds, but how about a few hundred thousand?
Folks are shelling out $150,000 for guard dogs bred and trained by Svalinn, a Montana-based company that told BI's Katie Notopoulos they actually expect the price for their dogs to go up.
The so-called "protection dogs" are a mix of German Shepherds, Dutch Shepherds, and Belgian Malinois, and they've become a new status symbol for the ultrawealthy, according to a recent New York Magazine piece.
$200,000 secondary passportsAmericans are increasingly seeking secondary passports amid election concerns and rising antisemitism.
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There has been a surge of Americans seeking secondary passports, BI previously reported — and the service comes with a hefty price tag.
The cost varies by country, with the Caribbean carrying the lowest cost at $200,000 per applicant, according to Judi Galst, who manages the New York office of the global citizenship firm Henley & Partners.
Other countries, like Malta, require a 750,000 Euro donation to the local economy, so the fees for a couple to have the option to relocate there "can be at a million plus," Galst previously told BI.
