If the repair gives you two more seasons, $200 is a bargain. If it goes in the first 15 knot breeze, you've had a $200 lesson.
My point is that you haven't mentioned whether or not the amateurs warranty their work. A loft will do this in most cases, if you can prove you weren't stupid about the conditions.
Of course, a reputable loft would also decline to do the work if the sail was too far gone and would only likely rip elsewhere at the milder sort of provocation. Most lofts I deal with keep the concepts of "repair/rebuild" and "make a new one" fairly separate, which is good as my "thing" is to recycle racer's jibs into cruiser hank-ons that I can get three to five years out of.
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