status symbol
Something, especially that which is very expensive and flashy, that someone owns and displays as a means of showing of their wealth or success. In this part of the city, expensive sneakers and designer sweatshirts are the real status symbols. Nothing says "status symbol" like a single person buying a 25,000 square foot mansion all for themselves.
a ˈstatus symbol
an expensive possession which shows people that you are rich: These cars are regarded as status symbols in Britain.