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It's just a tad bit confusing as to why 1911s demand such a high price.
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I don't think the price of a 1911 is high. My HK P30 was exactly the same price as the SIG RCS that I own. There are 1911's that are as low as $500 in cost.
When the 1911 was designed, there were not machine tools as we know them today like the knee mill - never mind CNC machines. The machine tools that were available were relatively simple in function and expensive compared to hand labor, so it was more cost effective to have the gun hand fit as opposed to attempting to setup an assembly system and tools that would automate production.
That's still the problem today with the 1911 - it needs more than assembly of parts. It still requires hand fitting of certain parts, and that costs money. What is interesting is that there is one 1911, the Cabot, that has been setup to be manufactured so that every part is interchangeable between any pistol. The cost for this level of precision manufacturing and quality control? About $5K per pistol. So there is, apparently, no cost saving through precise manufacturing and QC as opposed to hand fitting.