At some point a knife (or sword) becomes a status symbol or a piece of art. The price is going to reflect that.
For some handmade knives the handle material may go over the $700 for the Cold Steel kukri. Ornamental oriental daggers may even reach a 6 to 7 digit price.
A machete for $34.99 may be a great tool but it does a really poor job when it comes to showing off your wealth.