To select something means to choose it from among others. If you select the most expensive phone, it doesn’t necessarily mean you will be happy with what you get.
You can use select as an adjective as well as a verb. It means "specially chosen" or "of superior quality." For instance, you might be one of the select few who know how to really appreciate a game of Tetris, or you might want to choose a wine from a select list of Spanish reds. All of this assumes that if you select one thing, you feel that it's better than all the other choices.