I think the pricetag is a little spendy myself, however these are not just pressed out of some mold.
They are hand made to order, which kinda goes someway to justify a high pricetag.
I mean what better having an exact replica of one of the most iconic props from an epic trilogy, hand made just for you from the workshop that made the originals.
I'm sure Jens Hansen has been offering replicas of the one ring for years now, however i'm unsure if a hand made to order ring has been offered before, i'm not too knowledgeable, but perhaps someone who is in the know can fill us in.....
Sure you can buy a cheapo copy from ebay, but some folk out there may just want the most accurate replica they can, and sometimes, that does come at a cost.
I highly doubt Weta would be bringing us a product with a hugely inflated price tag, thats not their way. They obviously feel that the price is justifiable, and given their track record (D9 weapon pricing as an example) i'm confident that you will definitely get what you pay for, one of the most super accurate 'one rings' money can buy.
Between this and the Hand Made limited edition (10) LOTR swords that Weta are continually offering up, i see here a company which is delivering the serious collector exactly what he / she wants to see. Again Weta should be commended for bringing these to our collections, wether we can afford them or not, what other company do you know that offers such items???