I think you analogy is accurate Jacob except that the words "repro furniture" should be expanded to "superbly engineered reproduction furniture".
I have no doubt that the engineering and care that goes into LN, LV and Clifton masterpieces is worth every penny of the prices commanded...indeed...they are relatively cheap compared with the cost of a comparible Norris example at the turn of the century which would have cost a year's wage for a cabinet maker then.
Jim