Kevin Michaluk:

Functionally, there is no benefit to purchasing a gold Watch Edition model over the much less expensive Watch or Watch Sport. All three models will accomplish the same tasks on your wrist. That said, for all those out there, myself included, who have the Watch Edition on their “to buy” lists, this truth simply does not matter. It’s like telling an aficionado of luxury mechanical timepieces to buy a quartz or digital watch because it tells time more accurately. When moving into the realm of luxury watch pricing, It’s not about what the watch does for the owner. It’s about what the watch means to the owner.

Exactly. Some purchases are made with the heart, and they’re all about the emotions associated with the product, not necessarily the product itself. This is why Leica can get away with charging $8,000 for a camera that is functionally no better than many others that cost less than $2,000.