I remember when I was in school for photography, one professor told a story of when he was starting out he knew another photographer that charged about three times as much as everyone else in his local community, and he was getting a ton of work, and was in high demand, though he was a rather mediocre photographer. But he was great with the clients, and charged a premium rate that made the snobs he marketed to feel like they where getting a superior product, which they weren't. My professor said after a year of kinda hating the guy's ethic, he sold out himself and raised his rates a bit. His noticed after a few months a marked increase in clientele, and as he put it, a subtle loss in his faith in humanity to survive as an intelligent species.
Snob appeal. Owning the best, makes you the best. How do you know it's the best? Look how expensive it is!