Distance You Can See
The larger the telescope, the further it will be able to see into space. Huge telescopes, such as Hubble or observatory telescopes, can see into the far reaches of space due to the size of the mirrors and lenses they use. Large telescopes that amateurs may use are not as powerful, but will still see further than smaller versions.
Resolution
Larger telescopes use larger lenses and mirrors. This means they get a greater resolution on the image, resulting in clearer pictures. Near-Earth objects, such as Mars, Venus and Mercury, will appear clearly on both large and small telescopes. The gas giants such as Jupiter, star systems and galaxies may be hard to see through smaller ones, but will be visible through larger telescopes.
Magnification
As larger telescopes have better resolution, they are able to zoom in more on objects without blurring the image. Smaller telescopes can still magnify, but will give you a fuzzier image.
Conclusion
Larger telescopes are more expensive than smaller ones. It is possible to spend several thousand dollars on a good-quality version. The price is closely linked to how good the telescope is. The larger the price tag, the larger the telescope, the better image you will get back.