The mechanism to strip the ends of the wire is what you are paying the big money for. Both ends of the cut wire must be stripped. And many times the insulation is cut and not completely removed to keep wire strands under control. The distance from the end and the amount of insulation movement are both adjustable.
I have a pneumatic stripper to do just that, but the workers say it's easier to just do it by hand when they need to use the wire piece.
By the way, my wire cutter came from Ebay.
Paul