Lumifer comments on Things I Wish They'd Taught Me When I Was Younger: Why Money Is Awesome - Less Wrong
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And I'll make a stronger point as well: people rich enough so that their "basic" needs are fulfilled effortlessly and semi-automatically care about status goods a great deal more than people who have to make budgets and worry about money.
A guy who buys a yacht and parks it in the marina "doesn't use it" from one point of view, but does successfully use it from another point of view which considers that as a symbol of wealth and status it works perfectly fine at the dock (actually, works much better at the dock that in the open sea where not many people can see it).