Hi Norm,
For a genuine belt that could be right. I get nearly all my parts from Deustcher and haven't found their prices to be excessive compared to other dealers.
Do you know roughly what year and deck size it is?
If it uses the Victa CH82248A belt, the price he paid appears to be similar if he bought a genuine belt.
An aftermarket GA Spares BEL241 is $77 
https://www.[Censored].com.au/victa-cutter-drive-belt-ch82248a.htmlPowertoolspares in Lincolnshire UK want �115 for what I presume is a genuine Victa belt. 
http://www.powertoolspares.com/tool...refoldmodels19871995/fg406-15300/spares/