Yes, but the longevity doesn't effect the market because they're things rich people collect. People buying them on the whole won't buy fewer because "this one still works", so the rarefied market changes the market forces considerably.

Another example is high-fashion, where things aren't necessarily made any better than low end goods, and it probably doesn't matter because rich people (women mainly, it seems) will wear an item once. So again longevity isn't really a factor as long as it appears to be well made.