Doesn't sound outlandish but you could find cheaper.
A 500VA toridal transformer from Jaycar is priced at AU$99 (From the Aussie web site)but they dont have a voltage mentioned. You could contact them for details.
If you used 2x 12V-0-12V 300VA Jaycar transformers it would cost you AU$126 but give you 48V at 600VA.
Thats 48V AC by the way, that will give you about 67V DC no load.