Does charm pricing work for premium cosmetics on my audience?

I'm running a premium cosmetics brand targeting high-end consumers, and I'm uncertain whether psychological pricing strategies like charm pricing (e.g., $97 instead of $100) actually work for luxury products. My target market seems sophisticated, and I'm worried that such pricing might make my brand appear less premium or manipulative. I want to understand if charm pricing is appropriate for my specific audience and product category, or if it could potentially damage my brand's perceived value and exclusivity.