Sounds about right for a brand new wheel.
Consider a used wheel might cost $10-20 for tire removal and disposal. Then another $75-120 for blasting and powder coating. On top of purchase price which might be $50 plus or minus.

•1951 GMC 250 in the Project Journals
•1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
•1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-