Raymond - the easiest answer to your question about the cost of rebuilding a Bristol engine is economy of scale. It costs disproportionally more to produce small numbers of parts.
It is possible to rebuild a Bristol engine yourself on a budget. Parts such as pistons, bearing shells, cam followers, timing chain etc. are available from mass produced engines. These are not necessarily up to the original spec but would do good duty if the car isn't driven too hard. However, if you pay an engine builder they would not unreasonably expect to use the best parts to put together an engine they are proud to "own" as their work.
In some cases it may be possible to refresh an engine at modest cost but there is quite a lot of work involved in stripping the engine and assessing and testing all parts before starting a rebuild. This will have to be factored in to the rebuild price.
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