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What is a status symbol?

What is a status symbol? Here are some definitions.

Noun
  1. A visible possession that is a sign of one's social status or personal wealth.
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But it is a butler that many people crave, not just because he is the ultimate status symbol and most overt way of flaunting wealth.
Although AmEx has spent zilch on promotion, some would-be customers go to absurd lengths to get what they see as a must-have status symbol.
It's a kind of status symbol to show you are modern, progressive, technically savvy and what not.
It is status symbol, emblem of success, a marker that separates me from thee, mine from thine, my worth from your worthlessness.
More than any other regularly produced watch, owning a Rolex is an investment and a status symbol, more than it is a teller of time.
Even if the cellular phone is not really considered a status symbol, it has become part of fashion, an accessory.

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