wow- to me that seems really expensive- but it might not be- check around- check ebay- & craigs list- check the vintage machine topic here& see what others have paid for theirs-
i do know location matters- so in your area that may be right-
but i think if you decide you want a vintage machine- be it a featherweight- or any other you should set yourself a (price limit) how expensive you are willing to go- then just look until you find the one that fits into your budget....if you are willing to pay that much for one- then it's a good price.
i spent 3 years looking for my second machine- then found my little beauty for $20...and it is WONDERFUL! no-it's not a featherweight- it's a 1956 singer 99K=
runs great- is a pleasure to use- and the price was sure right!