Originally Posted by Vitals
98% of North Americans, no.
Those percentages sound about right.
Mind you, a slightly higher percentage will be able to tell how well your suit fits. Fit tends to trumps details like the "S-count" of the wool, whether the stitching is by machine or by hand, whether the suit's full canvas or not, etc.
But yeah, typically almost nobody in the real world will be able to tell from casual interaction with you whether you're wearing a $250 suit, or a $2500 suit.
Doesn't mean there's no difference. But within fairly broad limits, chances are you - the fellow wearing the suit - will be the only one who can tell whether it's cheap or expensive. So if you're thinking of spending the money, do it because you'll appreciate it, and not because the people who see you will be able to tell. It's like an oenophile having friends over for dinner, and serving a $200 bottle of wine. Assuming they're not fellow wine lovers, chances are they won't be able to tell a $20 bottle from a $200 bottle. But the fellow serving it can tell the difference, and that's why he chose that bottle.
And, once more, when it comes to suits fit is key. Better a $250 suit that fits you perfectly, than a $2500 suit which fits you poorly.
I actually work with a guy who if he isn't sure, will just walk up and open one's jacket and read the label.
You know what amazes me? That if some colleague of mine walked up to me and opened my jacket so he could read the label, and in response to his rudeness I discreetly struck him in the face with the palm heel of my hand and broke his nose, there are actually some people who'd call me the bad guy!
Some people just don't understand the concept of a teachable moment.