We Pinsiders commonly expect the average EM to be priced in the mid-$$$ triple digit range... with all of the "average" problems: Average flaky backglass, average cupped inserts, average playfield wear, average chipped/scratched/faded cabinet, average condition of playfield parts, average mechanical issues, yada yada. But a full restoration is a different story.
Let's start with an average $500 EM and add $350 shipping. Then, let's do the following...
NOS/repro backglass: $250
full playfield resto and clear coat: $750
new playfield parts/rubbers: $100
plastic set: $150
refurbish mechs/new lamp sockets/sleeves/etc: $100
cabinet work (not always req'd): $200
repaint: do it myself $75 in materials max
legs: $50
misc: $25
Which is in the neighborhood of $2500 and many hours work. My my, that added up fast, didn't it?
It would be possible to dramatically cut costs by doing my own PF restos/clear coat, backglasses, and buying local instead of paying for shipping. But until then... I don't see any shortcuts. It costs what it costs, eh?
Does it really seem all that crazy to pay at least $2k for a pristine restored EM? Seems pretty much right on the money to me... and that's for any ol' game. The Slick Chicks and King of Diamonds of the scene would undoubtedly fetch more.