You mean, like a snob
I find it hard to understand why people assimilate fashion, jewelry, exclusivity with a mass-produced (in China), mass-sold mobile phone.
And man, if you want to spend $11k on a watch, there are so many more actually tasteful alternatives out there than Rolex...
Rolex are in fact a very good comparison to the iphone, they are overpriced, have the same functions (or less than other cheaper alternatives) and tend to be owned by young people that think they are a status symbol, or older people that will pay silly money for something they think is premium! lol
Your right though the iphone is knocked out cheaply in china, Apple charge a fortune (BECAUSE THEY CAN GET AWAY WITH IT), the fact that Apple make the lions share of the profit in the phone market, whilst selling less units than the android manufacturers, should highlight how much they are overpricing their devices...