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If it's a local authorized dealer quoting the price. They don't do any work. Just send it out and double the price.
If it's a watchmaker doing the job. Overpriced.
Some cost examples.
Genuine crystal - $35.00 Canadian
Crown - $20 - $25.00
My original dial refinisher was one of the best in North America and only charged $50 and that included replating the indexs and s/h back to me
You don't say what parts are rusty, so can't give actual replacement costs.
I would check around with a few other places and find actual watchmakers who do the work. Not places that are just going to send it to someone else to do.
If you find a watchmaker. Check his work space. Good one's keep their stations clean. Messy tables could mean lots parts which they will bill you to replace
If you mention that your going to shop around for estimates. Prices will probably come down
Hope this helps
DON
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