What makes a cat pricey?

[Malicia Python]

Basically, it is like anywhere else, just what people may pay for that item. In Kittyland, a new or very recessive trait can be very pricey - even more when both. A combination of the aforementioned traits can make a cat even harder to afford - as it is usually a lot of work breeding them (ok, some are lucky and get a good combo in a cat to begin with.)
Besides the hard facts, there is the notion of how coveted a trait is. Seems the Foxies and Bengal Tawnies are not that recessive, but somehow hard to breed and therefore still rare and as more peeps want them than there are specimen to have, prices stay up.
I noticed also a kind of fashion that changes quite quickly and can cover any trait that is not alley-cattish. You can often watch this at auctions.

Usually the prices avalanche downhill as soon as the market is saturated. And a lot of sellers try to compete to sell the last ones as long as this cat is sellable - in many cases these are examples of a formerly highly coveted trait, people invested a lot of money and now try to get their return of investment.

Disclaimer: I know this list is not complete or economically grounded. It is a summary of observations and intended to offer a quick survey of possible factors and mechanisms.