Should a website cost $2,000 to build?

[Kim]

I want to sell several products. According to this website it'll cost me a lot of money.

http://www.designquote.net/html/dq_estimate_wizard.cfm

I have checked:

Basic Word Press type website
No unique graphics
Contact forms
Simple cart shopping
Credit Card Processing
Paypal
Database reports
Traffic Statistic Reports
Search Engine submissions
Press release submissions
Twitter Integration
Facebook page

Here's what I'd like for my website. I'd like it to sell 5-10 different products. I'm going to have on-going contests/sweepstakes promotions to promote sales. Those are the two main goals of the website, every thing else on it would be used to support them. The contests require that I have the option for contact forms to inform people who win, and some basic control of other means to enter the contest on the website. I figure this means I will need some kind of database reports.

Is there any expenses that I have forgotten to add, or that are unnecessary?

This will apparently cost $1700-$2300. Is this accurate?
I'd like to include a lot of other functions, but it gets too expensive.

Also, are these one-time costs? I'm assuming I'll pay this once, plus maybe $100 a month tops to maintain it, and a percentage of sales to paypal/credit transactions that depend on what my sales are.

Is this accurate?

[Jake]

That's a big investment just for testing the waters, I recall someone here reporting setting up a tshirt shop with original designs and a shiny new site costing $1000 who was still waiting to make his first sale.
Wordpress is not a great platform for online stores, some payment processing services won't allow it because of the security holes. It's fine for putting a simple catalog online yourself, perhaps including original articles to help gain search engine ranking.
Consider first selling through a marketplace like Ebay or Amazon, which have ready made customers as a simpler way to gain some experience, there are also dedicated ecommerce site hosts with shopping carts and payment processing built in, which might cost $20 - $50 month.
Ultimately you ma find getting prospects to the site to be a bigger challenge than setting up the site, free search engine traffic is more difficult for sales sites that don't have valuable content in the search engines' eyes. Paid advertising may be needed to scale up sales volume.

[Neil]

You can set up an online Wordpress e-commerce very cheaply ie:
1.Domain name: US$9.00/10.00 per year
2.Hosting: from US$4.00 per month depending on space required & bandwidth used.
3.Good hosting will provide the Wordpress script FREE.
4.Thousands of free Wordpress themes - use Google to find them.
5.Probably new header graphics needed - no more then $50 from http://www.fiverr.com
6.E-commerce plugin: there's a free version of WP-eCommerce but I prefer the paid (about $50.00)WP-eStore from http://www.tips&tricks-hq.com
---all good e-commerce plugins include payment processor(ie Paypal), product details & variances, product delivery if digital product,shipping etc for physical product.
7.Add free plugins for Contact forms, Social Media, SEO etc.

All for say less than $150.00 if you are prepared to a lot yoourself.

There are many free & paid ebooks & videos on installing & configuring Wordpress.