I have not generally thought of myself as a person with way more clothes than most people. But I just counted, and I could wear 67 different bottom-coverings without repeating: 22 dresses, 19 skirts, 17 pants/shorts, 9 work items. After reading people's responses in this thread, that's... embarrassing.
But I don't think I have ever spent more than $40 on an item of clothing. I have a lot of gifts, hand-me-downs, inherited items... when I buy clothes these days, it's mostly from Goodwill and Target. Plus, I have (and can still wear) a significant portion of the stuff I was wearing in my early teens.
Still embarrassing, though. I should probably donate some clothing.