I got mine on sale (new) for under $200 at Musicians friend during the closeout. So natch, that's the most I'd pay for it again.
It's a nice bass for the models. Not entirely fond of the neck but it's passable.
With a real Alembic (1977 Series I), American P-Bass, Rick 4003 and my custom 5-String bass if the Variax died tomorrow I would not be too distraught. I'd just go get me a 1971 Eb3 and I'd be happy again.