I believe what the New York Times is saying. I have made the mistake in the past to buy things because they were cheap or on sale and they did not last me. Then I noticed that some friends bought quality stuff and had these items for over 10 years.
An example is my friend who is a guitarist/composer bit the bullet and bough a Valley Arts custom Pro Guitar from the USA for around $4000 AUS. It was made up of:
Ebony Fret board
EMG Pickups – Active (SSH)
Birdseye Maple Neck
I myself a budding guitarist bought a cheap guitar many moons ago for around $800AUS and have had problems with it and it costs to fix these problems.
This article comes from:
The case for spending a little more sometimes (NY Times)