A laser cutter is often used to create decorative medallions or borders. I’m not sure how much you would expect to pay for one.

thanks for the link Jack

I would opt for a CNC router ystem. Laser cut hardwood materials show minor burn markings on the edges of lighter colored hardwoods. Having seen both functions CNC provides a much tighter fit as well; minimal gapping.

Let's see. Used CNC system. Starts at $10,000 plus/minus

 

http://www.exfactory.com/equipment.aspx?catId=RL