Audiophile LP's

That title sounds pretty general but I didn't know how else to name it to attract some attention. For several decades in the production of vinyl the sound quality has widely varied due to recording process, pressing, and other factors. I remember years ago that some commonly available LP's were also available in a much higher quality (and a higher price) than the standard LP and offered superior sound quality. Can't remember all the terms to describe these records but direct-to-disk, master recording, and probably a few others I can't recall. Back then I never purchased any of those since when the needle dropped and music was there what else mattered? To buy a record at 2 or 3 times the standard price didn't make sense to anyone I knew at the time.
My question....I know that numerous sellers on the web list LP's for sell as "mastered", "audiophile", and the like. Back in the day were current sellers offering these truly superior records just trying a ripoff? If not, are most of the ones still in existence only are owned by private collectors?