When I was shopping for a state-of-the-art handmade five-string back in '87, there were really only three viable choices (...well,
four choices, if you include eccentric and brick-heavy Alembic

); Tobias on the west coast, and Smith and Fodera on the east coast.
Set the Wayback machine for 1988, Sherman:
All three were competitively priced at the time, so cost wasn't a factor. I test drove various instruments from each builder before going with Mike T. (the fact that his Cahuenga Blvd. shop was 15 minutes away was a plus), and I have absolutely no regrets.
Smith was a fairly distant second, but try as I might, I couldn't get Vinny's basses to sing for me; they just didn't fit. Were they worth the asking price? Definitely. Are they worth something like three times that amount now? Not to me; way too heavy, aesthetically not my thing, and a tone that strikes me as a bit sterile and aloof,
but YMMV.
Pope's example happens to be spot-on for me:
No one in the world who loves Jersey Drodz's work (sp?) and thinks he has the magic touch would consider buying a Fodera.
I ended up with a Drozd a few years ago that has a MSRP right up there with Fodera, and I feel that I got a
lot more bang for the buck in spite of the abysmal USD/ESP exchange rate, but if I had preferred the big butterfly brand to the Drozd, I would have been all over it, and bang for the buck be damned.