I'll add my 2 pennies. What Cosmic says is true and Dunhill is a good example, however, I think it goes deeper than simply marketing. First of all, I don't agree with your assessment that most pipes are hand made. Most pipes are mass produced by machines. Ma Hines chuck out the stummels, then they are fitted with pre formed stems. Many times even the drilling is done by a machine. The combination of cheaper materials and a faster, less expensive (and less precise) manufacturing means a pipe can be sold for less money and more profit. Very often this, IMHO, leads to pipes of inferior quality. I know, I know, many people here will vehemently disagree with me and wax poetic about how their $50 basket pipe smokes just as well as an expensive hand carved pipe. This is an oft argued subject. My view is that even a blind squirrel finds a nut sometimes. A machine may crank out some exceptional pipes... occasionally. The difference is, a machine will make sure h a pipe a much lower percentage of the time than an experienced artisan pipe carver who spends an untold amount of time Shaping, sanding, drilling, polishing the airway, cutting and shaping stems from rod stock, and many other processes, that a machine can never do with such precision! So the difference, to me, is that a bad pipe from such an artisan is the exception, while it's more of the rule with some mass produced pipes. Thus, the difference in cost. Add Cosmic's marketing differences, and there you go!