In my very limited experience, top end clothes often look unremarkable in photos. Even when you see them for real and try them on, you may still think, 'It's very nice but how is it worth that much?' It's only when you've worn it all day then forgotten to hang it up and you still don't need to iron it in the morning that you begin to get it.
I have a crush at the moment on a coat with a similar price tag. I'm not posting a link because it'll just bring out even more people going, 'You fool - Primark have got one for tuppence that's much nicer' or 'You fool - don't you know what's happening in Syria?' or the odd wannabe Joan Rivers, trying out their routine. And besides it's a fantasy coat that I could never afford, but if I could, I have no doubt it would look good for the rest of my life, although it would probably date before then as all clothes do, even the classics.
But then again, there are brands where you're mostly paying for the Bond St rent, the Harpers Bazaar promo and the 'Fuck you, I'm rich' factor. I don't know which camp Burberry is in but there will be posters who do.
And well said Enid, on calling out the '87 year-old' comment. 
So much shittiness round here at the moment, they should start giving out wellies.