Tim,
That's a big question I've been asking myself, and it's a similar one to the knife pricing issue. How much of it is related to quality? Or materials? Or reputation?
Having been a knife maker for a good while now, I know that my pipes have the benefit of those skills and are quite a bit above the average in quality that you'd usually get from a new pipe maker. However, I AM still a new pipe maker, and though the quality may be more-or-less on par with more experienced guys, I can't pull down the kind of prices they can. I'll PM you with what I think I'd like to get for something like the above, and we can go from there.