A individual obviously rich enough to buy nice shit but selfish enough to buy only bad quality crap. Usually feel proud of themselves for being closely related to douche bags.
Other version: can be said of an individual living a cheap life, feeling proud about it by saying they embrace a gypsy lifestyle while actually swimming in their parents money. To be shot on sight.
That fucking customer tonight was not only the worst douche-bag God Himself ever made me encounter, he was also a freaking cheapskate!
Prices shown in USD.