Often thought to be said by asian people when they describe things that they would like you to consider to be high quality in order to make the most out of a deal. It usually is something really cheap and dirty sold at a high price.
On certain imageboards/textboards it is also used together with VIP to form a special form of anti-quality known as "VIP-quality".
Western customer: *Looks at the modified Trabant* "This car is a bit expensive..."
Asian: *Jumps at him* "Iz not! Iz guud kworitee cah! Have wan self! Beri beri guud! Buy, yeees. Kworitee."