Decide on the type of pocket lighter you need
Lighters are actually designed for a specific use. A torch lighter is used for cigars, while a pipe lighter is used for, you guessed it, a pipe. Make sure you get one that is designed for how you will use it.
Decide on the fuel type you want the pocket lighter to use
There are two main fuel types that a pocket lighter can use. Butane or lighter fluid. Butane is generally used only in a torch lighter as it produces an incredibly hot flame which is great for cigars, kind of overkill for a cigarette though. For general use one that uses simple lighter fluid is fine and the fuel is cheaper too.
Decide on the type of ignition system you want the pocket lighter to have
A classic Zippo uses a simple flint system, this is much cheaper but you do have to replace the flints occasionally. A pocket lighter can also have an electronic system which needs no replacement items but can, since it's more complicated, break down occasionally. The electronic pocket lighter is also more expensive. Keep in mind that a flint system just about never breaks and you can replace the flint in about 10 seconds. An electronic system will have to be sent in for repairs since you really can't fix it yourself.
Will you have the pocket lighter engraved?
If you're going to spend money on a fine pocket lighter I would suggest you get it engraved as well, especially if this is going to be a gift. This can certainly be done after purchase but most lighter merchants can do it at the time of purchase, sometimes it's even done at no charge to you.
How much does a fine pocket lighter cost?
Here are some fine Pocket Lighters on Amazon, highly rated and different types of ignition systems.
Here's some more useful information that might help you find good quality cigarette lighters.
The cost of a good lighter will depend on many things such as the type of pocket lighter, electronic or not, and if any sales happen to be going on. I suggest you read lighter reviews on such sites as ConsumerSearch or ConsumerReports. These sites have lighter reviews written by unbiased comsumers just like yourself and can really help you get a great price on a pocket lighter. You will of course also find many uselful links right here on this page to help you find a great pocket lighter too.