Can you tell the difference between a $200 and a $200,000 guitar?

@noromance : My mistake! Yes, acoustic guitars all sound different. Just like violins, violas, cellos ... Since sound quality is so subjective one may prefer the cheap guitar over the expensive one! 

Different pickups and strings will produce different sound for each guitar. The wood they are made of has no effect when they are plugged into an amp. Tonewood is a myth employed by marketers to justify higher prices.