I will agree with the others on some points.. A lot of what you pay for is name brand and reputation.... Same concept as shopping at the mall for clothes vs buying them at Walmart, etc.... They will both get the job done, but the more expensive brand typically looks and feels better..... Also makes the purchaser look and feel better
Another thing that drives cost is demand.... Some bowyers aren't in this thing to get rich and they take their time.... They are not interested in working their butt's off year round... And that's fine too.... O.L. Adcock told me that he only makes 30 bows or so a year.... Think about that!! 30 bows.... There are hundreds or thousands of people that are wanting his bows..... He charges a premium and he deserves it IMO.....
Just like anything custom made, the guys with the best reputation usually charge the highest price....