when a good is priced high consumers generally assume it to be of better quality even when that is not the case many companies source or produce their goods in the same regions or factories but because of marketing and brand identity some are sold at a premium if the price is increased on the same good consumers may then perceive this as improved quality and be willing to pay the higher price 
similarly when a good is perceived as difficult to purchase an affluent consumer is willing to pay more for it this is commonly seen in the art world paintings from deceased artists such as picasso or monet fetch millions of dollars because a limited quantity exists the price does not necessarily reflect the quality of the art rather it arises because the artist s paintings are not readily available 