1976 Corvette Fender Repair Question?

outshined_81

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Today while driving home my newly purchased 76 stingray, the passenger front tire blew out and destoryed the lower half of the passenger fender.
I had it towed to a shop where they quoted me 4000.00 to patch in a repair panel, and color match, it really isnt TOO awful bad and it seems astronomically high for the fix.
Is this about right? Or am I screwed?
I should add that they will only be repainting that one small area, and that I can get the patch panel myself from ecklers for $300.00
http://www.ecklers.com/product.asp?pf_id=11016&dept_id=1438

So beyond that I'm not really seeing where the other $3700.00 comes into play
 
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