Snobbery is an attitude of being better than others and is orthogonal to the monetary value of your assets.
Clarence Threepwood, fictional 9th Earl of Emsworth, patriarch of Blandings Castle(*), was no snob. His sister Lady Constance very often was. She felt that her wealth, cultured sophistication, and social position made her better than others. Similarly people of meager means can be snobs too since ones conception of oneself as better than others is always relative and one can almost always find someone to point at and feel better than.
In my opinion, having an expensive hifi doesn't make someone better. It's just means they've got an expensive hifi. But to a hifi snob, it makes
all the difference. Sneering put downs and jealousy might make an appearance in the ensuing drama that, for us egalitarians, can be so entertaining. Conversely a person with an expensive hifi might also be a kind and decent person. As I said, orthogonal.
(*) If this is all new to you, try the TV version. It's a lot different than the books but excellent in its own way. Connie and Clarence have their first confrontation in the first minute.
The Great Gatsby is another good literary exploration of snobbery and how it relates to wealth and other social symbols.