The Santiago Bernabeu side are set to break the current world record transfer fee of €94m - set when Madrid signed Cristiano Ronaldo from Manchester United in 2009 - prompting significant debate over the size of the sum.
Barcelona coach Gerardo Martino stated at the weekend that €100m for one player shows "a lack of respect for the world we live in", but Platini insists it is not a problem provided Madrid have the means to pay the installments - although he questioned whether Bale is worth the sum.
"I don't have any objections against such a fee as long as the buying club can afford to pay €100m," Platini told L'Equipe.
"Nobody would have said anything about it if Madrid had decided to buy three players for €30m each.
"Whether Bale is worth €100m is an entirely different debate, though..."
The 24-year-old Bale failed to turn up to Tottenham training on Tuesday and is expected to finalise his move to Madrid imminently.
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