That sounds reasonable (if its brand new). I bought 3 iphones (4s) last month 2 were unlocked. Paid 450 for a 32 gb one, 390 for a 16 gb one and 350 for another 16 gb. The first two were locked. Even though they might sound comparitively cheaper, I had to drive to a city 35 miles from my place to buy the unlocked ones.