Ah, cheers, that makes more sense.
I was struggling to understand how such a low cost was translating to a > $1k shoe but selling at $125/unit makes more sense in that context.
So it's the scarcity of the material (and the workers to work with it) and the time required which bumps the price up.
I wonder if cheap overseas and machine made shoes have been partly responsible for higher prices. When I was younger I knew a lot of people who worked in shoe making but all that's left now seems to be the high end stuff.