manhours
I don't know about the "longer tradition" stuff-- many illustrious names were just old brand names with no connection to the original company. I think Lange was brought back, actually. Gevril is another example.
Rolex has been the same company, continuously since it started.
My guess on the high cost (other than someone will pay it) is the labor cost. If all the parts are individually made and fit, the labor cost can be astronomical. If you add some cosmetic finishing on all the internal workings, you can quickly end up with thousands of $'s of cost-- some of which do not make for a better working timepiece.
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