I would say that wearing a sweater knitted by one's grandmother is its own kind of status symbol. I'm more impressed by that (someone having a grandmother willing to invest that much effort in a gift for them) than someone spending $1000 on an item of clothing.
The fact that those items took a long time to make is part of what makes them status symbols though, because if you pay a lot of money for something that took no time to make at all (see most NFTs) you look like an idiot to a lot of people.
This sort of thing was done at a time when everybody did it, and now that it's not done, nobody does it
No kid ever said "did you see the sweater that Timmy's grandma knitted for him? That kid is so cool! "
Mostly because they all had grams sweaters as well.
I don't know what term you were looking for, but a handmade present for someone dear is about the furthest thing from a "status symbol" that I can think of:
- it can't be bought
- it can't be transferred without losing almost all value (ie: it's only valuable to you, or at most your family, eBay doesn't want it)
- it provides no improvement whatsoever in one's social standing
What are you referring to with the phrase "status symbol"?
I can't connect it at all to your listed points. An Olympic medal is about obvious a status symbol as I can imagine but it can't (meaningfully) be bought or transferred.
The status signified with a knit sweater is membership (and good standing!) in a caring family with elders not yet fully subsumed into their phones.
People, acquaintances and strangers alike, frequently comment on the knit socks I often wear, ask after who made them, and all of a sudden we're on "how's your mom" terms.
Status symbols signal different status in different contexts. Some contexts (mostly lower middle class and below) are impressed by Rolex watches because they are expensive and the struggle for money forms a collective experience.
The old rich doesn't give a shit about Rolex watches beyond noticing the newb rich using them to tell on themselves.
To be worthy that much time is the statussymbol of love. Its a rare thing, money can't buy. Somebody gifts part of his finite time on the planet to you bundled in an artifact.
I like the sweater, and some people like you might recognize it as special, but it doesn't have the universal cachet of a Rolex or something. It's also a bit chunky and funny-looking (but I guess so are some Rolexes).
The fact that those items took a long time to make is part of what makes them status symbols though, because if you pay a lot of money for something that took no time to make at all (see most NFTs) you look like an idiot to a lot of people.