As many of our fiber experts have pointed out, you will find that cashmeres vary as much as wools in quality, feel, and itch factor. Cashmere comes from goats and not from sheep so I guess is technically not a wool, and cashmere likes to be washed (whereas wool will "felt" -- tighten up and shrink -- when exposed to moisture and warmth).
If you see a cashmere sweater that is priced like a cotton sweater, don't expect it to behave like more expensive cashmere. You might get lucky, but you almost certainly won't.
The same is true in the other direction, unfortunately. An expensive cashmere SHOULD behave beautifully and last forever, but there is a chance that it won't, especially if it's "designer" or "fashion" cashmere, made by a label that might not know fibers as well as a longstanding fiber expert. Also, cashmere draws moths like crazy. Keep it washed and keep it out in the light.
Watch where it comes from -- fine cashmere should come from a place with a history of knowing cashmere, such as Scotland. And yes, expect it to cost the better part of a mortgage payment.