Depending what paints used mate yea could cost that much, but obviously can be done with cheaper paints etc. It could be done for alot less that that tbh.......
Like is say i did a whole xr2i for 200odd, 3L of basecoat and bought 5L of lacquer.
Obviously lacquer can be bought in smaller tins etc, is he painting it himself or taking it to a garage to do?!