The Scottish winger joined the Tigers for £7m earlier this month, while Fulham have pounced for his fellow countryman Ross McCormack for a whopping £11m from Leeds.
"All of these players have bucked the trend which we keep hearing about with critics saying we don't produce enough talent," Reynolds told The Scotsman.
"We are starting to see guys who are moving for around the £10m mark and if you combine the likes of Snoddy, Ross and Steven Fletcher, then we are getting into the tens of millions.
"Scottish football has had a bad name for not producing quality players, but you only need to look about and you see guys who are getting huge price tags placed around their necks.
"They are certainly worth those price tags and they are stepping up and proving they can compete at the highest level."
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