Is it a double lp at least? If so while still somewhat high that's not a totally crazy price for colored double lp vinyl. I'd say the average is around $35-40 so still a little high though, unless that includes s/h.
This is the most expensive set I have in my vinyl collection..
Amazon.com: In a Frozen Sea: A Year with Sigur Ros [Vinyl]: Music
I got it for $150 brand new when it came out but like half of that was gift certificates I had for the place I copped it at. Damn, that's the first time I looked at the prices since buying it. Nice to know it's going up in value even used.