I too would not pay that much - seems like a rip off to me. But - if you use it and it is necessary, then I would find another place to take it. I was just googling - and the needle threader as an individual part is not that expensive . Did they find something else wrong with it as well?
Threaders are finicky and on most of the machines I have had they have stopped working correctly after a while. NJ Quilter has a great suggestion - the other option is old fashion bees wax. Run your thread end several times through the wax then with a sharp pair of scissors clip the end at an angle. The thread will be stiff and go through the eye easily. This is how I thread my featherweight, the under loopers on the serger and my long arm.