Wow, for $500, I can make a lot of bias tape on my ironing board and buy lots of material. I can't imagine that this machine would be that useful. How much was it in the beginning before it got those gouging prices?
The same thing happened to me when I needed a portable CD player. I couldn't find mine while I was healing up from being sick and decided to just buy another one. The CD player I bought from Sony when it was new at $40, was now going for $100 used and $600 new. I did end up buying one for $100 (used) and it served my purpose. However, after I got healed up and was looking for something else, I found my CD player. Murphy's Law working really well.