Ever wonder why certain brands cost so much? Prestige is one factor. Owning a pricey product from a coveted maker carries cachet. People know it and aspire to it. If money is no object, by all means load up on all the high-end brands that make you happy.

But money is an object to most of us, and trying to keep up with the Joneses is a sure-fire way to squander yours. As such, your decision to invest in an expensive item should also factor in quality and value, says Bobbi Rebell, a certified financial planner and host of the Financial Grownup podcast. Is there a true difference in the construction and functionality of the product, compared to a cheaper alternative, to justify the high price tag? Equally important, does the brand stand behind what it sells?

Items purchased from high-end brands, generally speaking, tend to be better constructed from higher quality materials, and return policies and warranties tend to be more customer-friendly. But not always. We asked several shopping experts to share their top picks for pricey goods that are worth every penny. Here's what they had to say.

Shinola Watch

Courtesy of Shinola

When it comes to your everyday timepiece, spending extra on a higher quality watch that can hold up to regular wear-and-tear can prove to be a smart financial decision over the long run, says Jeanette Pavini, a savings. "Buying a less expensive watch only to have to constantly get it repaired or even replace it defeats the purpose," she says.