Nor is it a bad price for a NIB one. I have an early 1.0 and it's excellent, 100% reliable. If you don't need a manual safety, there are some police trade-in mid-size ones (full-size frame, 4" barrel) for $299 here.
ETA: It's funny how spoiled we've become. When I started into this in the early 80s, if you wanted a .45 ACP you'd spend >$400 for a new Colt and then send it with a check for a similar amount to a gunsmith just to get it to run. 35 years later we're fussing about 100% reliable box stock .45s for $400 because their triggers aren't match-grade.