The meaning would suggest that someone has a fondness for things that cost a lot of money. If you want to buy someone a present and say it is going to be a watch and they choose one that is top of the range, they have an expensive taste in watches.
(Yes… now I’ve made a quick search and seen all that ‘taste in cars’, ‘taste in food’, etc
Thanks for that, especially. Prepositions are my sore point.
Defintitely, in the context of phrases like the above, I couldn’t distinguish clearly have taste in from have taste for (…expensive electronic devices, for example).