I've been watching this thread for a couple of days now, wanting to contribute and not knowing what to say. Some of you will have seen my thread on buying a new titanium bike, specifically for long distance rides, particularly audax.
I've had a lifetime of being frugal, bringing up a family and making what money we had go a long way. I retired last year, and quickly decided I wasn't ready to stop completely, so took a part-time job with the NHS. Due to staffing pressures I got sucked in (you always do with the NHS) and took more responsibility than I intended and am working more hours than I planned.
As a result my finances are in better shape than they have ever been. Buying a £5k bike was a self-indulgence, one that I may never repeat, but one which will have no impact on my ability to fund my lifestyle. The only difference it may make is leaving £5k less when I die.
I was interested in the comments about a standard being applied to bikes and not to other things. Its not the only self-indulgence I've engaged in recently. I bought a new mirrorless camera at the point I retired. No-one has ever asked me what I paid for that. I say I got myself an expensive camera when I retired and comments are often:- "Do you take a lot of photos?", or "What do you take photos of?", rather than cost. With the bike a small number of people will outright ask what a fancy new bike cost, but a lot of others will hint at it:- "That must have cost a lot."
I've also leased an electric car, mainly to have a second vehicle for my wife when I'm working. People do ask about the costs of that, mainly because many of them regard electric vehicles as out of reach, but without the judgment that is there when they are discussing the bike.
I didn't go from £200 bikes to a £5k bike however. There has been a gradual process of desensitisation to the costs of cycling since I started in 2010. My expenditure on things cycling related has gone from second-hand and Aldi clothes to £150 shoes in that time. My bikes have gone from a Specialized Allez at £560 for a 5 month old £900 bike, to a 2015 tarmac bought with insurance money after being knocked off my bike, which was a £2000 bike I got for £1800 because my LBS messed up and were owe me a favour, and a steel genesis equilibrium for audax with upgraded wheels and a dynamo hub.
I once read an article by a guy who gave financial advice to lottery winners. He said they all end up in the big detached house in its own grounds with the duck pond, but some of them take a couple of moves to get there, because they don't think that big to start with. If they are in a semi, they'll buy a detached house first and then relatively quickly move again. Their thinking is often just one step ahead of where they are.
While I'm not in that league, the same principle of several steps to get there applies to me. Buying an allez elite for £560 was as far as I dared go in 2010, but it was the start of a slippery slope. Astonishingly I've just found one on
ebay at £550 - amazing for a bike that was £915 new at the time and I got practically unused 5 months later for £560.
I still find it difficult to comprehend the money some people I know spend on TT bikes, these in particular seem to turn into an arms race, but then that is up to them........