My very first banjo back in the 70ies was a Raven. Yup, made in Japan and it did sound nice enough but of course, it didn't at all sound like a Gibson. It was fairly well made though and it sure did get me started. These instruments are of a way higher quality than the newer made-in-China ones.
With the way prices on just about everything have gone up, $200 Cdn is not a rip off but $150 should be a lot more like it and it'll get you going. If not then you shouldn't have much of a problem selling it for the same amount.
Good luck and let us know how you make out (with that banjo that is...)