This thread just highlights the subjective nature of value especially when it comes to the price of a classical guitar. When I was new to classical guitar, I always assumed that a higher price tag = superior sound. Over the years I've discovered that there are a lot of other factors that influence the price of a guitar. Other factors like the luthier's reputation, factory vs one-man shop, wood species used, historical value, made in china vs made in spain, aesthetic appeal, etc. all come into play and many are willing to pay top dollar for these other factors. A person who is not aware of these things may be shocked when they play a $40k classical guitar and feel that it only sounds marginally better than a $5k guitar, or not better at all.
Personal preferences are highly subjective. When I personally choose a guitar, the 2 main factors that I hold as supreme is whether it has a beauty of tone that grips me and whether the guitar is easy to play. Things like aesthetics, brand, price tag, woods used, etc. are not important to me. This is why I currently play on a guitar only worth a couple hundred dollars and yet prefer it over other $10K+ guitars that I have tried. It doesn't even necessarily mean my guitar is superior to the other guitars, but that my subjective preferences incline in a different direction. This is why I always suggest that when one goes to dealers to test various guitars, that the try their best to put their preconceived ideas aside and judge each guitar on its own merits, assuming sound is the most important thing they are going for.
"Success grants its rewards to a few, but is the dream of the multitudes.
Excellence is available to all, but is accepted only by a few." - Christopher Parkening