Wayne,
No offense, but this seems to be a recurring post! The PM figures are very low quantities ever made, whether repaints or slight tune ups, whatever. They bring bucks and are usually purchased by the collector who has to have it all. That is just the way it is. While "ridiculous" to you, not to others.
As I have previously stated, I put an extra PM 1 Napoleon figure (by the way, it is a Del Prado figure, but repainted to higher quality by K&C and was the first dealer promo figure) up on ebay about 4 years ago at an opening bid of $74.99. It sold for $555.99 or thereabouts. I thought it was a little nutty, but I enjoyed "cashing the check" so to speak. The collector wrote me when he received it that he was thrilled to death to get it and he would have gladly paid whatever it took to get it. I thought, more power to him, he is enjoying his hobby and I was a fortunate recipient.
I really don't find any price shocking. Collectors of all things will pay what they pay at the time of purchase. The next figure could go for $75 or it could go for $350, you just don't know. If you really want something, you find a way it seems to get it, we just all have different limits on how far we will go!
Again, in my opinion, not that ridiculous.
TD