Soooo..., The next question in line might be, WHY are bows, in general, so expensive? After all, they are mostly just wood and glass.
One of the obvious answers has been pointed out in this thread, the craftsmanship of the bowyer. It's hard to place an hourly rate on art work isn't it? Aside from that, there are other things that nobody has mentioned. Here are some things that I contend with as a bowyer and I think all bowyers have to contend with similar things.
I am in the process of finishing a new shop at a cost of around 100 K not including machinery but I'll bet I've spent at least 15 K for tools over the years. Materials are an ongoing expense and their cost keeps rising.
I'm also in the process of getting commercial insurance for the shop and for finished product liability. Our type of finished products require different insurance than what a cabinet maker needs and costs about 3 to 4 times as much. I'll be spending around 2K PER YEAR on it and have found that that is consider cheap for this kind of insurance.
Recently,I got a patent on my "Bow Bolt" after three years in the process. I've spent over $6K for that, not to mention the R&D and the manufacturing costs. I sell those little things for $79 each and a lot of people think they are expensive (I must really love this Trad archery stuff.)
Advertising will be next. Those full page ads that Black Widow, Horne, Robertson, and others have in the magazines aren't cheap. Probably in the neighborhood of 3K each.
The point is that you've got to be able to make a whole lot of bows at a low price or a few at a high price in order to make any money in this business. Most bow companies are one or two man operations so "a lot of bows" is not possible.
I think most of us build bows because we love to and that is why so many bowyers make such great bows, not the money.
It has been said, "if you want to make a small fortune in the bow making business, you need to start with a big one."
Craig