This is probably one of the most difficult questions to answer, because the answer is completely subjective. You certainly get what you pay for when it comes to buying optics, but a $400 binocular isn’t necessarily twice as one that costs $200. There is definitely a sense of diminishing returns on your dollar as binoculars get more expensive; you often pay a premium for minor incremental performance gains. That said, the very best binoculars on the market today are $2,000 or more. However, to some people, it just isn't worth paying the difference because they are unable to appreciate the fractional gain in optical performance with more expensive binoculars. Advances in optical glass and lens coating manufacturing in the past decade have broken a lot of barriers for less expensive binoculars. As a rule, most first-time binocular purchasers spend somewhere between $200 and $500.