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@Velocio
If you find the markup to be astronomical, are you really saying that you don't see that the money you paid is in the item itself? I mean, as long as you perceive the value of the item to be worth what you paid for it... does it matter what the figure is?
I own both Rapha and Assos stuff (related by price), I would say that I do feel the value of Rapha when it comes to some items. Those items being things like the sportswool jerseys, the magnificient socks (they are superb, insert other superlatives as necessary) and the caps. I'm also assured that the stowaway is awesome but I've never actually been up close to one.
I haven't found Rapha to be value for money when it came to the softshell. I've had 2 and both of them have fallen apart relatively quickly, starting with the thumb holes and then working up the sleeves. In fact, I would say that they are an example of massively over-priced items... in that my experience means I wouldn't now spend more than £20 on one... they are disposable due to their lack of quality manufacture.
On the flipside... Assos. Assos is even more expensive than Rapha, and the Assos I own has been consistently great value for money. It's flawless, it lasts ages. The shorts are incredible, the jackets are so well made it's ludicrous and makes me think of the cut of Balenciaga in his prime. These are items that I touch and see, and when I do I see the money I've spent, it's there in the fabrics and the manufacture, the design and the utility. Assos for me, even being more expensive than Rapha, represents great value for money. It's sterling stuff.
But my point is simply that... the perceived thing is value... has the money that you pay been given back to you in whatever measure you have. Has it provided the life, the utility, the looks... the value as you perceive it. If it has, then the price tag is irrelevant, the value is there and it was worth it. If it hasn't, then even if it were a lower price tag it's still poor value.
Measure things by their value to you, and you decide whether this translates to a price that delivers that value. If you decide it isn't, this is your personal take on it and it doesn't invalidate another persons view that it offers value to them.