> Oh, I thought it was because they're a way to show off about being rich.

Maybe for some. I think these examples were carefully chosen. Hermès are made in France, "Swiss watch" doesn't automatically mean Rolex, though in that case Rolex does own most of their manufacturing (though there is a whole world of carefully made watches out there that don't cost 10K). As for old properties... there is a huge range there, but unless you are living in a castle, most people, at least my city, are likely silently thinking: "I'm so sorry for them that they have to live in that old house."