one luxury goods manufacturer noted that, "our customers do not want to pay less. if we halve the price of all our products, we would double our...

one luxury goods manufacturer noted that, "our customers do not want to pay less. if we halve the price of all our products, we would double our sales for six months, and then we would sell nothing." Is there something about luxury goods that suggests consumers are irrational? Do luxury goods not follow the law of demand?