theres a place near me who charge £200-250 for a bumper repaint and they are sh!t, so saying you get what you pay for isn't always true
No one will ever win with you! a self prepared bumper could easily take up 5 hours work to put right, and for a decent painter to stake his reputation on it would almost certainly require rectification work, you should know this, especially with all your experience!... 5 hrs @ a dirt cheap £25 per hr, plus a dirt cheap £60 for paint and materials, stiil comes out at £185, and thats without VAT
OP may not know anyone, to get it done at mates rates, so may have done some asking round locally to him, and found someone reputable, the £200 quote is therefore reasonable, and not OTT, and I bet you'd jump at the chance to earn less money than the standard (ish) £30-£35 per hour that insurance companies are paying these days
So to the OP, again, £200 is a fair price, maybe not the cheapest, yes you could shop around for a lower price... best advice, is to go to whoever you're happy with to work on your car, and not to worry about the price of a round of drinks
Thom