My conjecture (and it's only that) is that Peterson has fallen victim to its own success in that they are able to
sell more and more pipes on the crest of the popularity trend of pipe smoking which has thrown their quality
control off balance. The basic designs and engineering specifications are time tested and good, but the demand
for quantity has outrun their ability to do the appropriate QC. Also, the currency exchange rate works against
them in the U.S., so the pipes are outrunning the gradual increase in prices across the pipe market. I'm one of
those lucky Peterson owners who bought new pipes before the trend hit big time, so I bought them at
moderate prices (they were never inexpensive) with excellent quality control. I think Peterson will regain their
consistent quality, but the prices won't come down. Even the estate Petersons are rather high, to my judgement.
If you feel oppressed by prices, look at French pipes which are still, generally, a good deal price-wise.
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