I would say they are pricing a raw unturned blank (which would require a smith to turn it on centers and setup and idicate to the bore for chambering, threading and contouring) and a machined blank (which should already have the ends faced and turned between centers so the smith can just indicate and chamber, thread, and contour).

I would say unless you want something done special by a smith hired by you, that you need to be looking for "Savage Pre-fits" when shopping for a barrel. That will be a barrel that is (when you recieve it) ready to screw on and headspace on your action.