My in-laws gave me a wallet from them, and it was fine, but I only kept it because it a gift. After a few years it fell apart like anything else.

I bought a $30 wallet that I like much more. It's thinner, way lighter, doesn't get wrecked in water, and it's handmade from recycled materials. And the best part? I don't feel pretentious carrying an absurdly overpriced wallet.

I've told my in-laws to stop buying me overpriced crap, and I've been much happier. I have a few gifts laying around that are probably worth $500 (two nice pairs of shoes and a handful of experience shirts) that I don't need, so I don't use them.

I can certainly afford it, I just don't see the point. It breaks like anything else so the extra price isn't going into quality, so I don't see a reason to justify spending so much.