Sorry, I never really learned grammar, I just English like what she is spoke...
My feeling is that, for me at least, there are three levels of cost. Cheap and nasty, Good value, and way over the odds.
Universal definitions:
Cheap and nasty: Anything costing less than my bicycle.
Good value: My bicycle
Way over the odds: Anything costing more than my bicycle.
Whether you've spent £30 or £30,000 this tends to be true or true-ish.