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The economics of weed differs a lot from area to area. There is no set price on what it should cost. Prices fluctuate. It's a fact. For the longest time around here and Eighth was $50 but due to competition among dealers it got down to 40. Now it's back up to 50, which sucks, but it just goes to show that you can't give an accurate price if you're not in the same area, buying from the same dealer.
50 an eighth? hmm i uno. i never really got into the really expensive weed. where i was the shwag they sold at school was good midgrade and i got really fat grams for 5 so i was pretty good with that.
what i'd do is call him, ask him if he'll blaze a bowl with you to let you see how good it is. and then go from there.
$60 for an eighth of reg in these parts. We don't get the option of premium strains around here. Don't complain.