Almost, but not quite perfect conspicuous consumption

This is as close to potlatch as you can get, I think, and it's green, to boot:

Recession hits 'I am rich' application - vnunet.com

This is an iPhone app and Android app that costs $1,000 or $200, respectively. It's only function is to display a jewel on the screen to inform others that you bought it. So you can impress people.

I think it is a little too direct, though. We normally like to dress up our demonstrations of excess wealth in either avocational pursuits, esthetics or philanthropy. Otherwise it's a bit nouveau riche.

Then again, so is a Vertu Phone.

Plus, the picture is too copiable, which is the point of the little authenticity cards in a "real" Fendi bag. Half of the pictures in this ebay auction feature the authenticity card. If it was just esthetics or quality craftsmanship we wouldn't care. But, the aesthetics and craftmanship are essential to the "dressing up" function, above.

If you really wanted to have a good version of this:

1. Custom art work (for $1,000 you could afford some customization. Get a custom logo done here, for instance. It's only $149!)
2. Embedded public key signature to prove it's "real". Link it to the serial number of the phone. Make it displayable as a 2d scannable code so someone can take a picture and authenticate at leisure. It's like Zillow for your phone!
3. Functionality - it has to arguably DO something even moderately useful or fun. Game, reminder system, something. It isn't important what it does, just that it does something. It's like the denominator in a fraction: the smaller it is, the bigger the result, as long as you don't divide by zero - then it's undefined.

Maybe it's not potlatch, I'm now thinking it's more like Limoges snuff boxes: The Art of the Limoges Box

They had a purpose, too.