The high prices these attract seems to be more related to the quality of the decoration, rather than the quality of the axe head. Perhaps these are seen as more of a symbol of office than an actual weapon for use, much like a princely scepter.
I also rather doubt this sentiment was true for the originating culture! It does seem more like a tribal art hype and people who should know better when spending reasonable amounts of money - obviously people's definitions of "peanuts" do vary a bit...
Probably explains why I picked up this Kalinga axe head for very little about 20 years ago--the axe head is every bit as good as the one above, just minus the handle and decoration!
Lucky you - 20 years ago just about everything "ethnic" could be picked up for a dime with a bit of patience and access to (mainly US) fairs; early internet access did helped, too.
Having said that, I'd pick your's any day over the current example - very neat quality!