> If you didn't care about status signaling you typically skipped the "new" label (which loses you tons of value right at signing) and bought used-whatever-the-

> If you didn't care about status signaling you typically skipped the "new" label (which loses you tons of value right at signing) and bought used-whatever-the-rich-people-were-buying-but-upgraded-from. This is describing a specific kind of person and it is not a general rule, at least not for the last 30 years. I would be surprised if it even applied to a plurality of people, but this all comes down to anecdotes anyway. The narrow examples I can think of are vehicles and, to a lesser extent, game systems. But anyone I knew who wanted to know the time would just buy a $20 Casio watch and, in that same vein, would buy whatever product is the equivalent of a $20 Casio watch in that particular product category. Buying used anything is pretty time consuming (unless you do no research and just pick the first thing you see) and a lot of people want(ed) to save their money by saving their time (time is money as they say) buying a reasonably-priced new product.