GP, I went out to run some errands and I was thinking the same exact thing...so I just sat down to ask it, too ! LOL
I feel that way about bags and other things too. I think that if I had the personality to have ONE trench ( I have 1 long one, 2 that are 3/4ths, and a short one ) that I wore 3 seasons out of the year for 15 years, then I might do it. Maybe. I like beautiful and well-made, but I don't need exquisite with fine detail ( you will notice the beautiful front seaming on the trench that you posted...you won't find that on a cheaper version ). Maybe it is my lifestyle. Maybe if I lived in NYC and was in high fashion...I don't know. Maybe I am just too practical. Maybe it is relative, though I can't imagine earning enough to feel comfortable in a $1700 coat ( my wedding band was cheaper, I have no engagement ring and my next most expensive item is a Marc Jacobs topper, which I will forever regret. ) But that is my personality and life history that comes with it. I also had no money as a student, so I can't imagine ( even afterwards, when I had loans and was living in a big city ) having any money for anything besides rent, food, loan payments.
The flip side is that there IS upwards creep for me. I am sitting here wearing a pair of $200 ( the most before that was a pair for $120 ) boots that I just bought ! I am still in disbelief...but I loved wearing them today and knew immediately that these will bring me pleasure for a long time. Two years ago if you told me that I would ever spend more than $75 on shoes, I would have laughed out loud. Same thing with bags. I have a couple of bags that cost over $200 ! Mon Dieu ! But I am thankful that I bought these things in my 40s, because I have a much better sense of what I will actually use and enjoy. And I know that we have the money - or at least HAD it, LOL !!
It is very interesting, though, isn't it ?? BTW - I LOVE the trench you posted !!!!