They cost so much becaue of the insane amount of worksmanship needed for a watch like this! One of these watches takes up to 5 months to make. They have a bagillion parts and are tested hundreds of times becore they're sold!
Just saw this thread and thought I'd share my fav watch. It's made from koa wood indigenous to Hawaii. Very dense, yet light. Got it on the last trip to Maui. I also have a nice Citizen Eco-Drive my wife got me for my b-day. It's the first watch I've owned that's deadly accurate. The fact I never have to worry about replacing the battery is a major plus.