Bayer products are high-quality (products) and very reasonably priced.

OR

Bayer products are of a high quality and very reasonably priced

beides ginge

I don't really think dude's refinements are necessary. I think both the OP suggestions are okay, and the first probably better. I don't think you need the hyphen. dude's new suggestion is okay too, but I would expect that version in a reasoned critique rather than in, say, advertising copy.

Hey thanks guys!

I disagree on a couple of points, belatedly.

I would say 'high-quality' definitely needs a hyphen as an adjective; the sentence in the opening post just looks wrong to me without it. (Though not untypical perhaps in BE, where dropping hyphens seems to be an error that's already extremely commmon and spreading fast.)

But yes, 'high-quality' is generally preferable to 'of high quality' unless there's some reason to be especially formal.

Company X is known for high-quality leather goods.

The same would be true of 'top-quality,' which is a little stronger. In many cases, however, it may be better just to use 'quality' without a qualifier:

Company Y sells quality products.

'Of' might work better in a longer, more flowery description, and with 'highest':

We pride ourselves on using ingredients of the highest quality.

The one that I don't think sounds like normal English is 'of *a high quality' -- that seems distinctly less idiomatic.

I'm with escoville.

The Chicago Manual of Style has a very detailed description of hyphenation with compounds - it's AE but fits with what I am familiar with from BE too.

First of all it says that these are general patterns not hard-and-fast rules, and that writers will make their own exceptions according to general taste.
Then it lists compounds according to type, including the example:

"adjective + noun: small-state senators, a high-quality alkylate, a middle-class neighborhood, the neighborhood is middle class. (Hyphenated before but not after a noun.)"

I would also have no problem in BE with "of a high quality", though I would class it as a bit less common than the version without "a".

to be of good/poor/top quality
goods of a high quality
http://www.oxfordlearnersdictionaries.com/def...

"Quality" as an adjective has to be said in an Essex or North London accent to me! Come and getcher luvvly quali'y goods right ere! :-)

FWIW, I too would not hyphenate "high quality" in "Bayer products are high quality"

For those who have time on their hands, one recent "to-hyphen-or-not-hyphen" discussion: related discussion: "It is reward-driven" with hyphen???
;-)