Robbs, I have to agree with you! As a long-time owner and shooter of the L42 and the other No.4 conversions, I believe that I am qualified to pass an opinion. Grossly overpriced! Popularity is largely due to the current "Sniper Rifle craze" which like all fads will likely pass leaving recent owners with over-valued mediocrities with inferior optics.
Interesting rifles from an historic point-of-view which certainly have some collector's value, but as shooters not a patch on their close relative, the Pecar-scoped and more reasonably priced Enfield Enforcer.
You may be right about the sniper craze, and the price may well be towards the upper scale for a British L42, but as to the fad passing, I have been only been in the sniper collecting game for about 20 years, and the prices have only gone one way...up. There were only 2 blips on that climb that I saw.....the crash of 2008 when discretionary spending stopped, and around 2012 when the replica scopes hit the market and quelled some of the lesser collectors thirst for optics and accessories. But overall the trend continues to climb.
My observations: early 90s: no4T = $300-$500
Mid 90s: they were at every 5th table at the gun show for $800
Late 90s: $900-1300 depending on if matched or not.
First decade of the new century: went from the $1200 and climbed up to the $4K mark
Second decade: went from the 3K mark and climbed to the $4500-8K range.
And with any of those prices, add 50% to 75% more if it was special like a LongBranch or a L42.
I remember around 2000, Wolverine dragged a L42a1 from show to show at $1700.....seemed like he couldn't give that thing away.
The Enforcers might be a better Enfield for target shooting, but exactly as you mention, they lack the military history.
Personally, I stick to Canadian used rifles, so outside of trials, the L42 was not in Cdn service. Just a personal choice I make....without parameters, one could be habitually broke.