In furniture, you definitely get what you pay for...or not. I've found anything <$300 is going to be nothing but fake materials like manufactured woods (if not even just veneer covered cardboard) and horrible cushion/fabric.
Anything decent doesn't really start until ~$1k, and anything in the $3k range you mentioned starts to become heirloom quality. As with anything, these are YMMV, but serves as a fast basis for my experience