Yea that's not a very good price. I owned one for a while too and they really aren't that great. I got mine for pretty cheap from a landlord who was selling stuff that was left behind in an apartment that was abandoned by someone that never paid rent. I sold it for like $200 a couple months ago because I was in a pinch and had bills to pay. I've never missed it since. It felt really cheap, didn't sound that great, didn't stay in tune, the bridge sucked, and if you played too hard (not hard at all) the strings would pop off the grooves in the cheap crappy plastic saddles. Mine had a wiring issue that I couldn't fix too, whatever solder they used when it was built was unmeltable.