I love my 301's and have 6 of them but I have never paid more than $125 and that was back in the '90's when prices were crazy. The most recent ones I bought were only $75. Sorry I am going to disagree with the majority here. I think it is down right crazy to spend that kind of money for a painted one. I am a purist and am really bothered by these repainted machines. And when folks are willing to pay the ridiculous prices it just encourages more sellers to do this. These are wonderful machines and don't need a cutesy color to make them desirable. Yes there are some that are probably trashed but what happens is when there becomes a market for these repaints then sellers will paint any of them so they can hike the price.
It reminds me of back in the 80's when I spent literally years stripping paint off of beautiful Victorian woodwork......I was restoring a 130 yr old Victorian mansion in a historic neighborhood......and a couple came and bought the house three doors down from me, already on the register...AND promptly painted all of the natural wood woodwork! And it was in pristine condition. What??? I was so furious. I thought "why didn't you go buy a new home if you wanted painted woodwork!"