I bought and used pretty inexpensive knives for a while because I was worried about losing them - then pocket clips came along and they were really convenient, and they were attached to more costly knives. I crossed the $100 threshold when I went to a Spyderco Endura then to a Kershaw Avalanche, and then one of the very early Kershaw Bumps with blue Ti handles. After that, it was a CRK Sebenza, a Strider SnG, a Gen I Hinderer XM-18. Carried them all, and found there was a big difference in the quality of the high end knives compared to lower end ones. Nowadays, modern production methods have narrowed the gap, and there are some Chinese knives that are excellent, and priced accordingly. My normal EDC these days is a custom Emerson CQC-10 or a later gen Hinderer, and I have a lot of confidence in either one. Primary criterion for me: must not fail under extreme use. I can carry a lot of things that cut, but if I have to abuse my knife in a worst-case scenario that I never saw coming, I want to be sure it will handle it.