I would not consider that too much for a nicely made holster. It is possibly to pay $350+ on a simple leather holster.
Well heck, if were talkin' custom made cowboy rigs, yea, they get expensive, as there's a lot of leather to be worked up.
IWB holsters from Milt Sparks/TT Gunleather/5 Shot, etc. are great values as they help to carry the weight of a heavy gun very well.
Again, I don't mind paying for quality, and don't waste my money on junk that's going to go in a shoebox.