12k is a bit hard to justify isn't it?
5 years of research? what does that cost? - Depends who's doing the research & how they're doing it. Let's say the research cost a million (not a chance, but lets use a million for now).
They need to sell 83 stereo pairs to make that investment back. Since they (& spookily enough Mr Gregory) famously recommend a 'loom' approach, each buyer might need 3 pairs. So they need 27 victims to recoup the 1 million.
Parts - what can they come to? Not even 1% of the selling price, I shouldn't think.
Labour - I expect 1 person could knock up 83 pairs in a week.
Tooling - Whoever owns the tools, I expect they're already paid for.
Other overheads - a new product has to pay its share of these.
Chuck in a bit for marketing, but the product is already gaining currency by the fact that it's being discussed simply because of it's price.
So, let's imagine they need an extra 5 victims (£180,000) to cover these costs.
Everything else is profit.
Nice business model - if you can find enough victims.
Personally, I think it's immoral.