Seems like established technology with common metals fabricating a simple mechanism. What differentiates a relatively inexpensive, contractor-grade faucet from one that costs anywhere from double to 10x the price?
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As with most of these things it is pricing based on value.
- Contractor is often fixing or building and cares a lot about the price.
- Most other purchases are during renovations so a luxury expense and relatively speaking the faucet will be a small part of that, so it is easy to milk these people for money.