Quoted from Marvin:
doing a 15K kitchen renovation does not increase your house value my 15 K either.
You're right. In many parts of the country, a 15k kitchen remodel increases the value of your home by more than 15k.
Quoted from Marvin:
Funny, I have a restored one with a new PF that has under 1K total into it.
Which means that the game cost you less than a $300 and you did practically nothing else to it (which means it's not restored) and/or the playfield is a bronze or silver grade and you did nothing to correct the defects. All of the lamp sockets and their braided wiring got replaced during the playfield swap? Cabinet stripped, repainted and ideally clearcoated? Ramp replaced or showing zero wear? Flippers fully rebuilt? Pops fully rebuilt? Standup targets got new stickers and got their contacts polished? Rollovers and their switches all polished? Boards are in perfect condition and recapped? Displays are all in perfect working order? Of course you replaced or polished your side rails and lock bar while you were painting the cabinet. Ditto for that coin door you disassembled and polished?
Oh right, you didn't do all of those things or you did but decided that your time has no value. If the latter is true, I am sorry.
Without having gone through the aforementioned items, most collectors would not consider your game to be "restored". It would be more accurately described as partially refurbished.
As for price/value it is crucial to understand that for some people 3K is like a nickel. Why? Not because they are idiots. Quite to the contrary. They were either born to wealth or have earned a great deal of money for themselves and therefore simultaneously understand the value of time and have a different idea of "expensive" than the average Joe.
I can see your argument about putting too much into a game being valid at a higher price point (the 10K Gilligan, for example - which is debatebly worth somewhere near that figure but has a very small potential buyer's audience and could therefore reasonably be described as a risky investment of time and money, if we were to assume that the original intent was to sell and that the dollar amount invested created financial hardship or strain or (assuming no financial strain) that the time and money invested was not offset by the psychological satisfaction of engaging with and completing the project).
I once took a couple of old EMs I had restored to a show. I was literally giving them away for 2K apiece. People that I know as casual pinball acquaintances who suffer somewhat from poverty mentality told me my work was excellent (one of my games ended up winning "best restoration") but that my prices were insanely high. I listed them online (with significantly higher prices) after the show and sold them both within days.
3k might strike you as a crazy price for a restored Space Shuttle, but anyone with financial means looking for an excellent copy of the game who has experience collecting high quality examples knows that $2500-3K is very good value and therefore a very reasonable price that places little to no value on the time of the seller.