It's simple - the longer it takes to build an item, the more that item will cost. A business has to pay employees to manufacture that item. The business pays them for every hour they work. More hours = more money = higher cost. Now factor in that Alembics are made in the USA, where salaries are - are you ready for this - 20 times higher than they are in China. That means that Squier, Epiphone, SX, et. al. are paying their workers $2/hr. salary and benefits, while it costs Alembic $40/hr. salary and benefits. Consider now that Alembics are entirely hand made, whereas the Chinese products are spit out using automatic machinery.
Now factor in the overhead. Alembic pays property taxes, workmans comp insurance, building and property insurance. They also have an administrative staff that gets paid around the same rate as the production staff. Now factor in the raw materials and electronics, which are MUCH higher quality than those on any Chinese bass. The electronics and hardware are proprietary, which means they are MUCH MUCH higher cost than what the Chinese are using.
And there you are. THAT'S why Alembics are so expensive. Resale isn't any worse than most high-end builders. In fact, resale isn't any worse than most non-Fender basses. It's just that when you take a 50% hit on a bass that costs $11k, it's more noticeable than when you take a 50% hit on a $1.5k bass.
Even this doesn't explain a $20K guitar. Some people just have more money than they know what to do with, so they buy Alembics.
