Some of the Asian watch companies offer the similar models in brass and bronze, the bronze usually being twice as expensive. I can't imagine (but I may be wrong) that the machining is that much different from one alloy to the other and the cost of such a small piece of metal cannot contribute to a 100% increase. So why the big difference?
Machining is a little different, as bronze is a harder alloy, and the raw material is slightly more expensive. Also, due to these factors, it is likely that fewer units of bronze cases will be produced, increasing the price per unit relative to brass (which will enjoy greater economies of scale)
However, the impact of this on overall cost of production will not be that high.
The reality is that once you reach a certain point of price and quality, the two factors no longer behave proportionally. Basically, a 10% increase in cost for the producer will cost the consumer more than 10% more.
What the consumer will pay determines the price in a case like you describe. Consumer thinks the bronze has more "cachet".
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