Can someone please explain why some centrepins are so expensive? I see stuff for sale second hand for £450 plus, surely there comes a time when the engineering cannot get any better?
Much depends on the expensive pin in question. For a start, if it's British made you can add at least £150 to the price of a similar design made in the Far East. However, the precise country of origin can also show a price differential. Chinese made reels are invariably cheaper than those made in Taiwan or Korea. It's a question of standards of living and workers pay in the country concerned.
Then you can throw complexity and scale of manufacturing into the mix. There are UK made bearing pins that cost up to £600 or so. On the face of it, they don't function that differently to an Okuma. However, they aren't identikit reels with different colour schemes and facias like the Okumas. They also are not produced in large quantities. The machining on some of the top price UK bearing pins is far more complicated than any other CNC machined reels I've encountered. The fit, finish and quality of materials is also a cut above, and so it should be for the sums in question.
Then there's a question of exclusivity alongside supply and demand. With a handmade UK reel such as a Chris Lythe, it's a long wait to get hold of a new one or you can compete to pay through the nose for a second hand one. It may or may not have been used, but you are likely to have to pay more than you would for a brand spanker. It comes down to whether you can wait three years for an order to be fulfilled. As Chris Lythe is no longer taking orders, that situation isn't likely to get any better and prices are likely to go up.
The bottom line is that the top price reels may not function any better than the budget stuff, but they tend not to be as variable in quality. However, my experience is that when you pay more the quality is higher. As with anything, you can end up paying more for certain brands or makers. There's little intrinsic value difference between many reels with vastly different price tags. The rule of diminishing returns is highly applicable. As ever, a £600 reel is not twice the reel of a £300 one. Nor is the £300 reel twice the reel a £150 one is. The end result is that you pay your money and take your choice.
Resale values are also a factor to those that consider such things. Generally speaking, the cheaper the reel the greater the percentage depreciation. When it comes to the very top end of the market, there's a chance that owners may actually make money on their investment.