Depending on the amount of usage it has received your laser may be weak/need alignment. Unless you know how to fix yourself, I don't believe replacing the laser will be cheap. Like the others said, at the prices you can buy more advanced cd players now, you're probably better served to buy a good used one.
$400 CAL CD player- Scrap it or fix it?
I have a California Audio Lab DX-1 CD player. It's about 3 years old, and it has worked flawlessly. Recently it skips, fails to "read" a disc, won't play at all, etc. It happens intermittently, and it is out of warranty. Turning it on and off usually fixes it. Nothing in the system or the environment has changed or moved. The question is with a minimum $75.00 repair charge should I fix the player or consider it disposable and scrap it? Any opinions?