Benjamin something does not sound right.
I purchased a new pump from my local Mastercraft dealer instead of rebuilding the water pump on my direct drive Malibu. Installed it myself. I'm guessing but I think the new pump was about $135 or 165. The dealer, who I have known for 15 years, told me to spend the money for new versus rebuilding because wear of the other parts would have me down again. My diesel Tiara pump was about $325 new and the rebuild installed was more because of the labor. You may want to confirm your pricing before you rebuild.