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"selling status" is correct and usable in written English.
You can use it to refer to a company's success in sales, particularly compared to its competitors. For example: "Google has maintained its selling status over the past year, while its competitors have seen a decline in sales."
Exact(5)
"If I were interviewing at a white-shoe firm or company like Sotheby's where you're selling status, I'd wear a folded white handkerchief, a subtle way of projecting finish, class, breeding," said Alan Flusser, whose clothing shop outfitted Mr. Wilcox in his suit.
Both Zynga and Cow Clicker are in the business of selling status in pixels.
The post notes that these changes "mostly include clarifying changes and minor updates", but there is at least one change that has some significant implications: Facebook users are banned from "using their personal profiles for their own commercial gain", with selling status updates to advertisers explicitly being singled out as a violation.
They've got a link to someone selling Status Quo's old tour bus and are raising money to buy it.
To not only reach New York Times' best selling status this late in my career but to be accompanied by half of my posse, or be part of their posse at least, is another concomitant of doing the job well for as long as I apparently have done it.
Similar(55)
It is all part of the airlines' efforts to sell status perks beyond those offered by traditional elite mileage programs.
My typical response is: Look, Apple sells status symbols to people who pretend to disdain status symbols.
Some dealers sell status and exclusivity -- as if you are joining a club; others make a more mercenary pitch, appealing to one's sense of value, investment savvy and greed; for others, the sell is more aesthetic, with a focus on the artist's technique, or on occasion how the painting matches the client's home.
At Portero.com, a Web site selling used status brand goods, shoppers have been drawn to niche designers like the jeweler Anthony Nak as well as to classics like Seaman Schepps earrings.
There were "South Pacific" scarves, "South Pacific" lipsticks, "South Pacific" neckties — even fake "South Pacific" tickets, sold as status symbols.
Capello, however, has not said it was the woman, or Terry's shoddy attempts to sell his status as England's leader — or indeed a combination of the two — that led to his removal from the captaincy.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com