Amp repair cost — is this right?


I recently sent my Musical Fidelity a308cr power amp off to be recapped. This amp is somewhere around 16-18 years old and one of the power caps failed. I contacted Musical Fidelity and sent it to a repair shop they recommended. Today I received an estimate to replace 18 caps, 8 of which are large power caps, resolder the boards, and re-bias the transistors. Basically a full overhaul. The quote I received, including return shipping (prob around $100) Is over $1,300 which possibly exceeds the value of the amp. That doesn’t include the $115 it cost me to ship it out. Having never had an overhaul done on a power amp like this, I’m wondering if anyone with experience can tell me if this sounds right. I guess I was expecting something more like $600-$800 but I don’t know why since I really don’t have a frame of reference. Perhaps it was the assumption it might be 4 hours labor (say $400) plus max $200 for caps. Is $1,300+ on track? Either way I’m going to be out the shipping cost plus a $160 fee paid for the estimate.
jnehma1
@mrdecibel no need to try to stir the pot... You're talking about yourself yes, but at least the topic is related, so have at it. I was pointing out that people were bringing up completely unrelated things like bathroom remodels or completely esoteric discussions about profit
Due to some experience (the hard way) I noticed very high price differences from technician to technician. So $105 - $12,- an hour.
A tech working out of his basement is going to be less expensive but he'll be more than $12.00/hour (unless he's doing it as a labor of love)- that bit is fantasy. But if we are talking about a shop, a shop has overhead like lighting, heat, rent, phones, etc. That is why almost any shop is going to be at least $80.00/hour, otherwise they can't pay the bills (including paying the technicians)!
That's a big number for the work. If at all possible, I would try to get some other estimates. I realize there is a point of diminishing returns because the more you ship it around, the less likely you are to save money elsewhere.
jnehma1,
I agree with Ralph in that a good shop needs to charge more to make a profit. I go by reputation, and if you find a good tech, the money spent is worth it for the piece of mind. 
I haven't been following this thread, but I would say that if you love this amp for what it is, and you intend to use it, then go ahead and invest in the repair if the tech is someone you can trust. I am fortunate to have a great tech that I trust, and I have spent more money upgrading my old Mac 2105 than most people would consider wise, but I love it, so it is right for me. 
@joecasey How exactly do you figure that? The bathroom guy clearly included labor costs of $50 per hour into his estimate, and $50 is a common hourly rate for a contractor. Reading comprehension is a good thing.