I'm in the market for a new wallet. I've seen plenty of $200+ wallets at the department stores. I am not entirely opposed to paying that much if I have some sort of objective justification for why I am paying more than, say, $50.
Then I see crap like this:
over $200 for a keychain that says Gucci. Which supports my long-held theory that everything made by Gucci is overpriced crap. I think this is marketing -- companies like that are targeting that small region in the brain that gets satisfaction from spending money, with no correlation to quality.