I'd rather buy a new hook and install it. You can buy a hook on eBay for $10-15 including shipping and it'll take a few hours to remove the old one and install the new one and then, clean and oil the rest of the machine. You'll save $225.
Anyone can learn how to clean, oil and adjust their own non-computerized machines. :) And I mean *anyone* - I learned how and I'm about as thick-headed as they come! :D
This is one of the attractions of these vintage machines - that with a little elbow grease and the occasional spare part, they'll sew on for a couple of centuries.