Without determining what are the criteria that would allow us to evaluate a garment's value and how to quantify them to arrive at a price there's certainly not much to be said here, aside from basic middle class bewilderment tinged with envy at upper class extravaganza.
I worked for a certain high-end designer (he will remain nameless, but he is a household name...in high-income households, that is) and much of my job concerned working DIRECTLY with the designer himself and I had the great fortune (read: misfortune) of accessing our database often, to provide prices to press reps for their inline magazine quotes. What you pay for the items is SO MUCH MORE than what it took to construct the item. I'm not even kidding.
The wholesale markup is insanely high. I find it laughable, after working there, when people place down tons of money for designer goods. I love luxury too, but in almost all cases, you're really paying for the name.
An example is, nothing in our house cost less than 1000 USD (retail). Nothing. Yet, we had items that were only a total cost of 30 USD to construct. That's including labor and materials (this is not the same as the wholesale markup).
And these Park Avenue wives would come to the atelier and spend 250,000 on an item (I am not exaggerating...this happened at least once a week) and expect a one on one with the designer himself, and it took everything in my power not to laugh in their faces because I knew we were ripping them off, big time. All we had to do was "sell the item"...harp on how luxurious it was or the craftsmanship (really just chat up the item), etc and they would ooh/aah and hand over their husband's charge cards. If it weren't so ridiculous, I would've felt guilty.