YES...$50+ beds are worth it. LL Bean makes some very nice beds and so does. Orvis. I personally use Orvis because I have had awesome experiences with their customer service. I'm sure both companies have excellent guarantees.
I just bought an LL Bean bed a few weeks ago for Jonesy & he loves it - he's sleeping there right now. The cover material is very durable. We had one years ago for our last dog and it washed & wore very well. I haven't washed this one yet, but I anticipate it will wash well also. I like LL Bean and have allways been very happy with their quality. I have a 18 year old knapsack that I use constantly and still looks new - I get compliments on it all the time & no one can believe how old it is.
I didn't look around very much when I was bed shopping, but I did look at PetSmart and I can say the beds there were not of the same quality as the LL Bean one I bought. The Orvis ones looked really nice.