If it was on the same level as one that has been gone over by Mike or Jack, that would be more than reasonable. We spend $3-$400.00 on them no matter how bad they are. !! Maybe $550.00 if it was built and timed correctly and had no issues. One can't (I don't think, haven't checked prices lately) can't get a modern Colt, Ruger or S&W for that price. And I am hearing more than a few horror stories about brand new modern/cartridge revolvers lately.
Perhaps the way for the Italians to do it would be to have "custom shop" guns that were of high quality, and priced higher like some companies do/used to do. ? Throw in some extras like exotic wood grips, some engraving, whatever. ? Of course that might be an admission that their regular guns off the line suck.