Who would pay $1k or more for a pipe? Or more than $500 for that matter.
Were I a multi-millionaire I still couldn't justify spending huge money on a pipe
Were I a multi-millionaire I would have zero reservations spending that kind of money. Wanting a good deal is completely understandable but if a person can afford it and they enjoy it why not spend the money?
It comes down to available funds and management of finances. When I was younger I did not have the income I now have and had to be much more aware of expendable income. Now I have more expendable income but I do keep a very close eye on my personal financial statement and watch my investments as well.
Think of it this way, at some point $5 might not be a concern and can be spent willy-nilly. At another point it might be $50, then at another point it could be the $500 you are referencing. I'm sure for some people it's $5000 or $50000. I'm nowhere near these last levels but I'm comfortable spending a few dollars every now and then.
When I was younger I didn't understand just how much money people could have until the owner of a place I used to work asked the company CPA (who he had manage his personal finances as well) if a $300000 check had cleared his account because he couldn't tell by looking at the balance. At the time I could tell if a $30 check had cleared my account or not. And this guy pales in comparison to a lot of other people. There are people who bet $20000 per hand or roll of the dice here in Vegas and don't think twice about it. Sure, some people that do that bankrupt themselves but for some people it's, to them, what pocket change is to the rest of us. If I had that kind of money I absolutely wouldn't hesitate to spend money on a pricey pipe.