agreed. when I started this thread I didn't have custom knives in mind. its hard to put a price on custom knives and say whether or not they are "overpriced" because they really are more personal and works of art.
Bingo.
It's all about the who, as in the who you are selling to. I think a $12 poster of Justin Beiber is over priced, by uh, about $12. My little niece on the other hand would pay $50 if she had to. Why? Well, we are different markets. I doubt anyone would call an 8 year old girl mentally ill for liking Justin Beiber, even if it didn't match their own tastes.
Now let's take it one step further. I think knife X is over priced. Let's say knife X is a paua handled damascus slipjoint knife made by a famous custom maker. Let's say knife X is for sell for $2,000. Now I don't like paua, nor do I like slipjoints a whole lot. But, I do like knives. Strange huh? But knife X is a knife so I must like it, right? Wrong. I have personal preferences that go even farther than just liking knives. Now if knife X were a Ti handled, DDR Gunhammer with a Damascus blade and carbon fiber inlays then I would be all over it. But, my late Grandfather would kick me in the testes for paying $2k for an "abomination like that." That doesn't make the custom Gunhammer worth any less. My Grandpa is not Darrel Ralph's market, nor am I the market of the custom slipjoint maker.
This is just the long way of saying, to those who lack understanding, is that we each have our own opinions. Neither is wrong, but it doesn't make someone stupid or mentally ill for paying 20-30 Benjamins for a custom Snody. Mike Snody isn't a cheap Chinese factory pumping out gillions of pastic handled, "surgical grade stainless steel" knives. These are one-off custom knives. In fact, a ghost writer will write you a book for about $10k on the cheaper end. Now, I would rather have a knife than a 5x as expensive book. Both are custom. Doesn't make someone an idiot for wanting to have book about themself, merely vein.
Like I said, it's all about the market. Who are you selling to? If one can figure this out, and Snody obviously has, then one can charge what they want to. Same reason you never see a guy outside of the Republican National Convention selling Norml t-shirts.