Back of an envelope, but I reckon the piece that Andy posted would have
at least 8 cubic feet of primary timber and maybe 4 cubic feet of secondary timber, add in some wastage plus good quality hardware, and the materials alone might cost £1,200.
But the real killer is labour. From a cabinet making perspective there's nothing in that piece that's particularly difficult; but there's just so many individual components and so much joinery that, as a first quality one-off, you'd have to be talking 1,000 to 1,200 hours. If you were all jigged up, or batched them out, you'd still have to be thinking at least 500 to 600 hours (it's got 26 drawers for example, and there's just not that much time you can cut from a first class drawer build). So even under ideal circumstances, for a craftsman built piece, that's at least a £20,000 piece of furniture. Even as a fully production built item, if it was solid timber throughout and half decently made, then I can't see how it could be manufactured for under £6,000.
So when I see similar items struggling to sell at a paltry £275 on Ebay, then I feel like weeping. And imagine how a restorer must feel when someone brings in an item like that and the restorer then has to tell them that even a modest range of repairs and re-finishing will cost maybe ten times the value of the piece!
http://www.ebay.co.uk/itm/A-FANTASTIC-V ... SwMf1ZpBbC