(BTW, I've just updated my money article.)
This is a page from The Trick To Money is Having Some.
This page is funny, and typically Wilde. Many years ago I told a friend that I'd bought a big work chair for 800 Pounds Sterling. He said I was crazy, and that I could have gotten it for half the price, a friend of his could have made it for me.
He couldn't see that even if: 1) I had cared, 2) and his friend really *could* make a decent simili, which I doubted, it still wouldn't be the same chair.
Even years before I had much money to throw around, I bought a quite expensive racing bike. People were astounded at how much money I'd used at it ($900, about twice what a typical "good bike" cost then). I found I could find common ground by finding an area they knew well, because within that area, they were familiar with a scale of quality and cost. One guy said he knew motorcycles. So I said "would you use a cheap wrench when working on a motorcycle?" He said "no, they break immediately," and he started to understand.
Sure, there are companies which take advantage of the fact that some people will pay a lot extra for illusory values. So you have to learn to differentiate between qualities which matter and those that don't. One clue is that when a price gets above 10 times the average, you're probably over-paying.
I should note perhaps that Wilde's chapter excerpted above is not about being willing to spend, but about being willing to charge good money for good work. A different area, but I shouldn't be surprised if they are closely related.