Is custom framing a painting supposed to be so expensive?

Today I went to michaels to get a custom frame put on a large print of a contemporary painting. The painting is a 60.5" X 32 " size. I chose their "better" category frame and the lady who rang me up quoted me a price of $495. Isn't this waayyyy too expensive?!?!? The sad part is that my... show more Today I went to michaels to get a custom frame put on a large print of a contemporary painting. The painting is a 60.5" X 32 " size. I chose their "better" category frame and the lady who rang me up quoted me a price of $495. Isn't this waayyyy too expensive?!?!? The sad part is that my print cost me not even a quarter of this price for framing. Is this ok or are these guys ripping me off real bad. Of course I'm a bit alien to the art collection/ framing world. And thus my jaw dropped when I was quoted this insane price. Please help and tell me if this is a standard rate for such a size or am I bring ripped off??
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