Is it me or is this guy crazy?

I went and looked at a litter of puppies today. They are pure American Eskimo. The mom and the dad were at the house. The mom has papers and the dad doesn't. When I asked about the price of the pups, the guy said without papers they would be $400.00. I think that is way overpriced. By the way, this is their first litter and they aren't backyard breeders. They just wanted to get a litter out of their dogs before fixing them. Anyway, am I just cheap or are they wanting way too much?