His price isn't to for off the mark. I don't sell just painted jigheads because it takes to long to pour/clean/paint/cure and I tie jigs so I use all that I paint myself. For someone with a small pouring/painting setup you are looking at a couple of hours worth of work for them. The guys that sell painted jigheads can do them faster but they still have to make some money on their jigheads to keep doing them. Time you spend a few hundred dollars to get set up and your time to do the jigs you will see that $40 per 100 isn't so bad.
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Ascend 133X 13' - MotorGuide Xi3 & Mercury 4