There are a whole range of reasons. I think number one is that they have simply been “sold to” – it is the accepted social norm to place a large proportion of their capital into a rapidly depreciating mass produced item that they dispose of part way through it’s life and restart the cycle again. However, there are other reasons.
- What seems like an expensive car to a normal person might represent a negligible part of a well off person’s wealth. So for years Bill Gates owned Porsche 911s – expensive to and average person – negligible expense to him.
- They may be enthusiasts – the…