I once bought a toaster for nearly $400. When I told people, they thought I had lost it. Doolally.
This purchase, and others like it, were based on this premise:
Given the choice between two items which will serve the same function, if one is twice the price, but will last 4 times as long, it is the better buy. Over time, the cost of it was lower.
Besides the long term savings, there are other benefits to this approach:
The better quality item usually does a better job.
If you suddenly don’t want it anymore, the better quality item generally has high demand and good resale value. Most cheap items have little or no resale value and low demand.
Caveat: High price does not necessarily mean high quality. Low price does not mean poor quality. Buy quality.
Tip: To be even more prudent, buy your $400 toaster used.