| That converts to about US$69, and while I haven't had that work done, it seems maybe a tad high but not unreasonable to me. There will be either a new switch or a new pot w/switch combination installed, plus time. For quality components and a professional job, it may be worth the money.
On the other hand, if you would walk away with a cheap switch/pot, and a so-so installation, or if you just want to save the money, surely you can find a guitarist/bassist/electronics geek in your circle who can do a competent job for less. | 
