At a rumored $1,400 sale price the coming iPhone 8 likely will test just how much people are willing to pay for a new phone -- particularly, how much parents are willing to fork over for their kids. While iPhones once conveyed status and sense of luxury, similar to a brand like Cadillac, pretty much everyone and their brother has iPhones today. The first few customers who get their hands on the latest model will be envied for about a week.