I've sampled a few new ones in the past six or eight years and found them quite good, but their low volume limits the selection on the inventory. The one that should be a turkey, a Ruff-Tone Drinkless with the screw-on stem and stinger, turns out to be a perfectly fine smoker, with the stinger quick to clean. With a little help from Member sable here I got the stem cocked perpendicular using a hair dryer to heat the glue. The other two, a Saxon panel and a Saxon billiard, with no stingers, have been fine smokers too. Notably the billiard has quite thin bowl walls yet never heats up at all to the touch, which is pretty classy. The panel is also a fine smoker. So I'm not sure Kaywoodie ever went into precipitous decline. You can get some up-market handmade for about $250 new. The best inventory on Kaywoodies I know is WVsmokeshop.com. Dunhill did some brilliant marketing and pumped their prices way up, above some perhaps much higher quality artisan pipes, but I think it is a matter of personal experience whether they live up to their brand. So I think you'll be happy with a Kaywoodie whether you spend $40, $80, or $265; I think you'll get your money's worth on a new one, and do well with most estates, but depending on how they've been treated and maintained. People pay up for Dunhills because it fulfills their desire to get "the best pipe made" in the eyes of a broad public. Members have snagged them for $20 online.