How much is a quality demo?

How much is a quality demo?
My band have decided to make a demo tape. We've been quoted different prices, the lowest was $200. I guess my question is how much should I expect to pay for a quality demo?

Toronto, ON

How much a demo "should" cost depends on what kind of a studio you record in, who does the recording, how many songs you record, and how prepared you are as a band before you go into the studio. In Toronto, you should expect to pay at least $30 for a "live room" where you record live to tape (not recommended unless you are the tightest band ever), and more like $50/hour for a decent multi-track studio with an engineer. Having said that, if your shit is really together as a band, you could probably record bed tracks live, add vocals and overdubs, and throw down a good mix for one song in about four hours. That's your $200 right there.

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