Karl Marx was a brilliant economist who spent his life trying to describe how economy works in a world with new technology. His descriptions tend to be concise, scientific, and able to pass the rigor and scrutiny of his peers. He was also puzzled by the phenomenon that you are pondering, and lays it out fairly early in his book, Capital. If all of the instruments work the same and are of the same quality, how does one account for the difference in value? Why is this difference in value variable from one person to the next, and why does it exist in the broader picture? He decided it must be something in each person that drives it, some sort of irrational peculiarity about (in this case) the brand name associated with it. He decides it's fetishistic, an attraction that an individual has to something that isn't explained by any real-world property. The term he uses for that difference in price, beyond the physical value, is fetish value. So, Mitutoyo and B&S, et. al. have a higher fetish value than Federal.
I'm sorta guilty of that with my instruments. I view Starrett as nicely made, but uninteresting and available by the truckload. I prize European quality, like Sühl and Tesa. For me, the fetish value applied to the Euro gauges is easily 20% over the top of the equivalent Starrett. The next guy to read this might think differently. You really gotta hand it to Marx for wrapping his head around it so that difference in value can be accounted for. Something to think about next time you get outbid on eBay!