too much is relative---some people would pay 5 times that amount- some would only pay half that amount-
the value is personal- how much would YOU be willing to pay?
you could browse ebay and craigslist- call around local shops and see what comparable machines are going for-
i think you will find a vast range of prices- it's only too much if you do not want to pay that much.
i have set myself a 'budget' and when i find the machine within my budget price i will get it- until then i will look...it all depends on what it's worth to you.