The tech world is completely aghast at the price of the gold Apple Watch Edition, which starts at $10,000 but is more likely to set buyers back $17,000 (plus tax!).
The pricing is baking everyone’s noodles. We can’t wrap our heads around a super-expensive watch that will soon be obsolete and is functionally identical to a $350 model. This is not how tech works.
But that’s the point. I wrote how the high-end Apple Watch winds me up — I argued that its very existence is antithetical to Apple’s democratic values. But after further research, it’s obvious that Apple knows exactly what it’s doing, and it’s very smart — even if I still don’t like the gold watch’s enormous price tag.
The Apple Watch Edition is a classic Veblen product. The outrageous price is the whole point. And the higher it gets, the more of them Apple will sell. It might even be priced too low.