Those are good points. You're right, a lot of auto/motorcycle restorations cost way too much because people buy basket cases, then put in all OEM parts. But if you get one for a good price that has all the parts, and just needs upholstery and paint, it's possible to win.
I have a couple FEDs and I like them. I also have spent money on a Leica repair, and I'm now stuck with the camera, which I don't like, unless I sell it at a loss. Another Leica I like a lot more, and had DAG do a CLA. It's a black IId with a Hektor 50/2.5. For the price I paid, and the CLA, it's still worth half again what I have in it. I like doing things that way.
My main point was agreeing with you; people don't like to pay for skilled labor, especially on a cheap FED. But the underlying reason is still about what is the final item worth. Three examples, bodies only:
- FED 1D for $50. Shutter curtain replace and CLA for $200 - $250 in a FED worth $50
- Leica IIIc for $250. Shutter curtain replace and CLA for $200 - $450 in a Leica, worth $250
- Black Leica IId for $200. Shutter curtain replace and CLA for $200 - $400 in a Leica, worth $450 (the winner, higher quality finish, more in demand, and rarer than the other two)
When my 10 year old refrigerator broke a couple months ago, I troubleshot it and found it needed a relay. I bought one for $75. Then the compressor went out. I called a shop and they told me to buy a new fridge, "...the cost of repairing it was more than it was worth...." I now have a new one.