On luxury goods
You buy a car from the store - the price is 30 000 EUR, let’s say.
You want to sell it immediately afterwards - the price is 25 000 EUR.
A new facelift hits the market (so the same car but with a different headlight design) - the price is 20 000.
Where did that 10 000 go?
My response - almost all goods that exist today are some version of luxury goods — ones which you buy just for the experience of buying something expensive - non-luxury goods don’t lose their value after they are sold e.g. Ikea furniture is the same price second hand, a piece of expensive hand-made furniture also. But almost all other furniture is at the luxury class.
There are even classes of goods, such as cars, for which all models are luxury.