I've got some Megabass jerk baits that cost around $30 and they do catch fish.
I'm not sure that they perform that much better than my RC models that cost 1/3 the price.
The yellow magic are the only baits that I know of that perform that much better than the competition.
Not sure I've found my limit yet though.

I paid $19.99 for a Daiwa T.D. Popper from BPS.

$50....unless of course it is a Mark Perry custom

Lucky Craft jerk baits @ 15 bucks and well worth it.

About twelve bucks... They're fish with teeny brains, not world class chess players.

I've got some $50-60 swimbaits but not many and that's about my limit. I found a bunch of s wavers on sale so I stocked up. They are about as good as the $100 glides and I can always paint one if the color doesn't work.

$20 on a Yellow Magic and $15 on a pair of 10XD cranks. Never got a bite on any of them.

I'm cheap
I catch just as many or sometimes more on a fluke than my buddies on high dollar jerk baits.... Only one color Arkansas shiner
Norman brand cranks
I'd rather spend 50 bucks on drop shot tackle....
But that's my style of fishing.... to each their own
And I pour and tie my own jigs...

Paid about $35-$40 for a Lunker Punker. I was the one who got punked.

I will agree with yellow magic though... Only bait I have ever seen out fish it's similar competition
My buddy had one about 10 years ago and I had all the competitors popR chug bug you name it
He out fished me 5-1

Just $50? I find that hard to believe.

Most I've spent on a crankbait: $10
Most I've spent on a wakebait: $15
Most I've spent on a topwater: $17
Most I've spent on a swimbait: $20

I'm ok spending more on top waters then I do other baits because the chance of losing it is low. $50 would probably be my max on topwaters, $20 on jerkbaits and $12 on crankbaits.

i'm with brad You don't need to spend $15+ on a bait to catch fish. i think we all get caught up in the new bait theory where we need to spend that much to catch a fish when in reality we overthink our bait use. If we fished with the baits most of us grew up with we would have more $$$ to spend on the Honey and keep her happy and be able to fish more...

I bet I have caught more fish on a plain Jane bone knock off 1.5dd silent than any other moving bait I own. I would be willing to bet I have boated over 1000 fish on that one bait. It just works in almost all conditions and water colors. I imagine I have changed hooks on it 10-12 times, not sure what I would do if I lost it.