People should work for free. Having a skill that someone else doesnt have, is not worth anything, and buying equipment (even if its simple hand tools) isnt an investment that you should be paid for. And there is no such thing as getting what you pay for.
2 relatively large pieces of dyed leather, high enough quality to be as flexible as it needs to be to conform and stick to the shape of our panels, are dirt cheap, should definitely only cost $40. Its a like 2'X3' piece, and cows dont have holes in the middle, so the fact that the middle is largely taken up by the handle/pocket etc, means they dont have to buy a piece that has that section, making it magically cheaper.
Right?
Not trying to be a dick here, but you are not really looking at it reasonably. Just because one shop will do it for $40, doesnt mean that is a fair price. I can also promise you they are using fake leather, or shitty leather. The materials alone cost more than $40.