Some master of business administration student could do an interesting masters thesis on how Dunhill pipes established and maintained very high prices both in used (estate) and new pipes. Or maybe better focus on new, to keep the study manageable. They're beautiful and well-made pipes, mostly, but not more so than a wide range of artisanal pipes that cost a lot, but less than Dunhills (you can name your own examples). This took a lot of skillful marketing and policing of retail of the brand. Some of the senior pipe men on Forums remember when Kaywoodie was a more expensive pipe than Dunhill, and neither was beyond the reach of a devoted middle class pipe smoker. Today I think the pricing almost takes care of itself, by image and mystique, although Dunhill still controls it retailers. How do you make something seem scarce and appealing at a very high price, and still sell in volume? That's an impressive feat.