what makes a 3 meter festool tape mesure worth $29.00
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The same thing that makes their jigsaw $265 - the name.
Look it up on Amazon, the reviews aren't very good, in fact the under $6 Komelion tape gets a significantly higher rating. But the people who like it are using it for inside measurements and trim work, where it is quite accurate and convenient to use. So I guess it isn't for everyone. I suspect it is a low volume item, possibly not made in China, and they aren't making a killing on it. Oh yeah, it has the Festool label, that does have something to do with it.
Same thing that makes their little roll-around stool worth $350:
http://www.festoolproducts.com/Festool-499325-MFH-1000-Multifunction-Stool-p/499325.htm
The name, and the arrogance of the company that sells it.