There are a couple of threads everyone needs to read before going down this road any further.
http://forums.azbilliards.com/showthread.php?t=104140
http://forums.azbilliards.com/showthread.php?t=97733
I'm positive...beyond a shadow of a doubt...that no cuemaker (Eric or any other) puts his price this anywhere near the $1000 price tag that this thing just rang in at either, Mr. Patrick. But even if they DID...even your own example says you're paying $550, and you're supplying the wood. How much did the wood cost? Do you perceive what you're getting for the cost of wood and labor to be a good value? You surely must or a sensible person as I believe you to be, wouldn't move forward with it. Eric's cues sell like hotcakes on the secondary market. It's sold now. Tim Scruggs' sneakies fetch a nice penny too. I don't think anyone's making uneducated decisions. Regardless of flash and substance (or what you may to perceive to be a lack thereof) there are just far too many people that like what Eric makes...for the supply to ever keep up with. I can't even IMAGINE the firestorm that would come up if/when I put the cue in my avatar up for sale.
If you asked a dozen cuemakers to make the EXACT SAME CUE...same specs...same materials...I mean...identical to the point you thought they were mass produced...I assure you that you'd fetch different prices depending on the builder that made it. I don't care if it's a conversion or not. In business...your name is everything. No one says anything about the fact that the difference between a $300 pair of Rock & Republic Jeans and a $30 pair of Levi's is that one says Rock & Republic...the other says Levi. And Levi Strauss has been around INFINITELY longer...maintaining a high standard over a long level of time. Eric's name is strong. He's earned it. I respect the vast majority of the people that make up this forum/community. There's an unbelievable wealth of knowledge here, regarding all things billiards. I simply refuse to believe that the portion of that community that is scooping these cues up for a high $$$ amount are a bunch of uneducated half-wits that don't know what they're puchashing. They know exactly what they're getting...and they keep coming back for more.
I seriously doubt this cue fetches more or less money regardless of whether it's a converted blank or not. In fact...if it WASN'T converted...it would probably go for more. I guarantee you the next time this cue surfaces, it sells for more than it just did.
Sorry for the rant...it's just that this is oft touched upon and always gets me going. *LOL* Carry on gentlemen.