Well worth that price! They are selling on Ebay for $300 +
Check out all the cords on the machine, especially where they go into the motor, light and on down to the foot pedal/knee pedal and plug in cord. It's the wiring that usually goes bad on these machines, not the machines themselves. Any cracking or dry rotting cords should be replaced before you plug in and turn on. And yes, you can find wiring kits for these if you Google.