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Perfection in notorious for very high prices. They just sit on things til they sell.
That said, this hammer, new, 30 or so years ago, was probably priced at over $200,000 from Chambersburg, and a similar brand new hammer from China, from Anyang, who still make hammer is this size range, would probably run at least double what they are asking for this hammer, and the Chambersburg is undoubtedly a better hammer than the new Anyang.
Similar sized Nazel's and Chambersburgs have sold used for this price range in the last five years or so.

So, while its certainly no incredible bargain, its actually not that bad of a price on the current used market.