Better hope that extra small pet isn't going to wee all over that $640 beach towel. Prices such as this give "don't forget your towel" a new meaning.

You're probably just not disgustingly rich.

Even if I was a billionaire I would still want to maximize the value I’m getting as much as possible.

Interestingly, this is the exact (typical) mindset that billionaires have which contributes so much to extreme wealth inequality.

They're billionaires because they don't waste their money? I don't think so. They're billionaires because they invest in companies that provide shed loads of value to their customers, so their stock is worth more.

many wealthy people are penny-pinchers in daily life

I don't don't see why a sizable bank account would make one desire to put on a clown nose.

If you were poor and threw your money at sucker-bait, I might not bully you for it, because the price of the item is punishment enough already.

But if you're rich and buying that, I'm definitely bullying you.

I'm of the same opinion when I see the dime a dozen Mercedes or BMW in the middle/middle upper class ends of town. I can understand getting an AMG Merc or M series BMW if you have the money, but the average luxury brand 60 to 80k car that is parked every other parking spot with the owner maxxed out on leverage just seems foolhardy to me.

To each their own I suppose?

There's this theory that illegitimate or fast gains lead people to not value the gains as much, thus more frivolous purchases.

That's interesting. I suppose that if I won the lotto I would want to try expensive things to see if they were worth the extra money. I've never dried off with $700 towels before, would I feel $695 fancier for using them?

I think the $700 of fast gains won't feel like $700, so you probably wouldn't experience the full utility of whatever fancy thing you buy.