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Depends on condition. Is it straight, are the seals good, is it complete drum-to-drum, gears & shafts OK, etc. For a decent one it doesn't sound unreasonable to me, but then I haven't seen one around here for less than $400 in a while.
If it is in good condition, $350 is a good price. That is about average for what I have bought or sold them for here in North Central Missouri. It seems that they have a price variation across the states, but $350 is fairly universal.