There are probaly lots of stories of it. It's just like people who buy a racehorse, or a stud dog, or any other live animal that can die.
You could buy a super nice car and the engine could blow up, or you could crash it. Unless you have replacement insurance, you're out some serious dough.
They are an investment in most cases. People spend thousands upon thousands on vacations to other countries, or on wine that they drink, or any of dozens of other hobbies or interests.
It's just personal choice.