I believe a couple of things are contributing to the perception of higher priced components sounding better. The first is anticipation bias. If someone says "listen to this amazing $40,000 amplifier I just bought" there might be the expectation that such an expensive piece of gear has to sound better because it's so expensive. This might be more so if you can't afford to buy one yourself. If you can afford it and bite the bullet, far be it from you to question that your investment didn't make a profound improvement in your system. The second thing has to do with appearances. 1/2" thick double anodized front panels with fancy engraving and machining and fluted knobs, edge lit glass inserts, exotic looking feet, etc. all give the appearance of something special. This has to sound better; just look at how beautiful this thing is. Electrons could care less what front panels and knobs look like. But we can't see electrons or how ripple-free the DC voltage coming out of the power supply is. How the gear looks though is something one can sink their teeth into. Appearances seem to make a lot of difference to many and the trend of audiophiles placing their beautiful looking gear between their speakers for the world to see supports that theory. Years ago, I remember speaker systems hidden behind an open weave curtain. The electronics were off to the side or behind the listener and there was nothing to distract you from the music which just seemed to come from the performers.
When someone tells you it's a $40,000 amp, does it sound better?
I've always been a little bit suspicious when gear costs more than $25,000 . At $25,000 all the components should be the finest, and allow room for designer Builder and the dealer to make some money.
I mean that seems fair, these boxes are not volume sellers no one's making a ton of money selling the stuff.
But if I'm listening to a $40,000 amplifier I imagine me Liking it a whole lot more just because it costs $40,000. How many people have actually experienced listening to a $40,000 amplifier. It doesn't happen that often and usually when you do there's nothing else around to compare it to.
I'm just saying expensive gear is absolutely ridiculous. It's more of a head game I'm afraid. Some how if you have the money to spend, and a lot of people do, these individuals feel a lot better spending more money for something. Now you own it, and while listening to it you will always be saying to yourself that thing cost $40,000 and somehow you'll enjoy it more.