For me, there is a price/value range that I am prepared to pay for any given item.
The variation depends on the 'quality' or desirability I attach to the item, and whether I consider the price "reasonable".
For example, I would pay $50. for a desirable bottle of red wine, but even though I could afford to pay much more, I wouldn't, because it would be outside my "range".
I recently paid $120. to have the elastics replaced in my RM Williams boots. That was the upper end of what I was prepared to pay before I would just buy new boots.
A good cup of coffee is worth up to about $6. to me. Above that, I don't care how good it is or who wants to talk to me about it, it's out of my "range".