I swear the bragging rights are a big factor when it comes to how a price comes about. Without it you couldn't explain why something rare but objectively bad fetches high prices while something obviously mainstream but great in terms of recording, composition stays affordable. There is some collector psychology going on that is the same whether it's Warhammer pieces or vinyl records. If you could never show your purchase to anyone, the dynamics would be very different. "I have here a very rare faulty pressing of a crackly proto-psych-acid funk groove with mooing cows, it was widely sampled by at least 50 wannabe gangstas, and I got it for just $100! What is that? A Johnny Williams recording, surpassing my record in many ways but being abjectly mainstream and without any traces of swag, widely available in good conditions? No thanks. What? A rare faulty pressing? Okay, I'll take it for $5."