“The drive for prestige and the act of spending to attain it are often intertwined with emotional gratification, social pressure and the desire to project an image of success,” writes Whimsy columnist CLIVE WILLIAMS. 

“Never keep up with the Joneses. Drag them down to your level. It’s cheaper.” –Quentin Crisp

Real estate agents love the word “prestige” and assure us that by buying certain exclusive properties we can gain it – but what is prestige, and can we gain it by spending a lot of money?

Prestige refers to the social respect, admiration and recognition that a person or thing seeks to gain within a society through purchases that serve as ways to display wealth, success, or exclusivity, thus allowing them to differentiate themselves from others or elevate their social standing.

In Canberra, it’s typically an action of the nouveau riche to attract the admiration of those less wealthy than themselves. The epitome is buying a multimillion-dollar property, demolishing the existing house, building a much bigger multimillion-dollar house, this time with a basement garage for at least 10 cars – and stocking it with expensive vehicles.

The psychology behind why people seek to gain prestige is complex.

For some, it’s a way to boost self-esteem, as owning “prestigious” items can affirm their success or elevate a sense of self-worth.

For others, it can be about social comparison, where people buy luxury goods to keep up with, or stand out from, their peers. This is particularly common in wealthier social circles, where luxury items serve as a form of conspicuous consumption. 

Some buyers no doubt view luxury items as investments, believing that high-end goods can appreciate over time. This rationalisation can also play a role in luxury consumption. The kind of person who has a basement garage full of luxury cars that are seldom driven, for example. The reality is that few luxury items bought new will reach their original retail cost in real terms for many years. 

Overall, the drive for prestige and the act of spending to attain it are often intertwined with emotional gratification, social pressure and the desire to project an image of success. However, the desire for luxury goods can often reflect a sense of insecurity. 

It’s said that luxury items can offer temporary relief from feelings of loneliness or low self-worth, and it extends to owning fake copies of expensive brands.

Purchasing fake Gucci bags and Rolex copies are a way that the less well-heeled can demonstrate that they too can own prestige items.

Owning what appears to be a “high-status” item can serve as a signal to others that one is successful or worthy. This emotional need is amplified in environments where societal pressure to display wealth is pervasive, often driven by media or cultural ideals of success. What one might call the Mar-a-Lago syndrome.

While some wealthy individuals may genuinely enjoy luxury items for their quality or craftsmanship, they are usually not ostentatious about it, while the ostentatious display of high-value items is likely to mask deep insecurities or feelings of personal inadequacy. 

On a lighter note: The phone rings and the caller says, “Mrs Joshi, please.” 

“Speaking.” 

“Mrs Joshi, this is Dr Kanitkar from ACT Pathology. I’m calling you because you’re the nominated next-of-kin contact. When we logged your husband’s blood sample, we found we had a blood sample from another Mr Joshi as well… 

“The fact is we’re uncertain which one belongs to your husband, but frankly, either way, the results are not good.” 

“What do you mean?” Mrs Joshi asks nervously. 

“Well, one of the specimens tested positive for Alzheimer’s and the other tested positive for HIV. But we’re not sure which is which.” 

“That’s dreadful! Can you do the test again?”

“We could, but Medicare will only reimburse you for these expensive tests once.” 

“Well, what should I do then?” 

“All I can suggest – if you can’t afford to pay again – is to drop off your husband in Civic and drive home. If he finds his way home within a couple of hours, he doesn’t have Alzheimer’s, but then I strongly suggest you don’t sleep with him.”

It’s said there’s a fine line between a numerator and a denominator – but only a fraction of people would find that funny.

Clive Williams is a Canberra columnist.