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TGR-
Quite often it's a matching set of Knocker, Knob, Letterbox, Rear Plate, Spy Hole, Banham Night Latch and Mortice and that's £1k.
Whatever you do don't ask Banham for a quote for a front door, I've never known a client to actually go through with it.
For what it's worth these are not just the same thing as your £20 version. There are very different grades of finish in all the different finishes. Quite often the cheaper Chinese brass items serve their purpose very well and for a long time but some of the English brass stuff I've fitted for clients is lovely, just really well engineered and very durable.
There is bad value out there but ironmongery you can spend any sort of money and you usually get what you pay for.
Airhead
I'd normally budget around £150 but sometimes the letterbox is a replacement and it needs to be close to the same size because adjusting the hole is difficult, if that size is unusual then it can be expensive.