About a year back, I found myself doing some soul searching and realized I just couldn't justify keeping some of the knives that went through my hands. Everything ranging from cheapy Walmart blades to 1500+ pieces. Something just clicked and I found myself asking how I could justify some of the prices. So now here I am, a year later, and I mostly have Spydercos, some Benchmades. and Cold Steels.
Let me start by saying that I don't buy knives to collect or as an investment to make money. I buy knives to use. However, when I purchase a knife, I think a part of me puts merit (either consciously or sub-consciously) into their value in the case I need to sell them if times get tougher or I need purchase something in a completely different realm of life.
IMO, if I buy $20-$100 knives for my needs they a)don't hold an edge very long when cutting through earth, wood, cartilage or a ribcage b) aren't safe to use (bad locking system) or c) aren't worth anything afterward if I ever wanted/needed to sell them.
As a youth with a cheaper knife, I thought it was a right of passage into manhood accidentally cut yourself and become "blood brothers" with the game you had just taken. I always came back from hiking/camping in the mountains with multiple cuts because of crappy once sharp now dull knives. Things changed at about 22 yrs old ... a Ruana knife returned into my possession that my father owned. I found the guy he sold it to at a gun show and on a whim, bought it back. It stays sharp longer, I didn't have as many accidents, and in 13 years and I yet to become "blood-brothers" with any more animals. Since then, I only buy knives that maintain those 3 things... Stays sharp, safe, maintains value (1 and 2 may go together)
To my third point, last month I wanted (not needed) to set up another bench for reloading... I could've ran out and just bought it, but instead grabbed one of my lesser used skinning knives, listed it, and I had the funds within an hour. Come to think of it, I even made money on that knife.
So maybe the prices aren't justified for you, but how many people are buying used and/or re-selling cheapy Wal-mart blades?