Why is Mikimoto so expensive?

Could you elaborate on the reasons behind the high price tag of Mikimoto jewelry? I've heard whispers of its exquisite craftsmanship and use of rare pearls, but I'm curious to know more. Is it the intricate design process? The sourcing of unique and flawless gemstones? Or perhaps the brand's long-standing reputation and history of excellence? Understanding the factors that contribute to Mikimoto's luxurious price point would certainly help me appreciate its value even more.