Here are my 'start from' labor prices. I do about 4 bikes a month (nothing but bikes...well, the occasional street rod

)
Disassembly/storage/reassembly: $80
Cleaning/Sanding of stock paint: $80
Removal of Stock stickers: $15 per panel
Seal/Basecoat/Clear/Sand/Buff of up to 6 peices: $550
Plastic weld/Bodywork: $25/hour typically, a crashed bike will need about $100 worth of bodywork...plus materials, about $150 total.
Most of the time, if you bring me a set of straight (or new, gel-coated fiberglass) stock bodywork that has already been stripped of stickers and sanded with 600 grit, you can get away with a 2 or 3-tone job for around $700-$900. Most of the bikes I do are Harleys (sportbike riders are either too young/poor/smart to pay the same) and the average bike leaving the shop is in the $1500 to $6000 range. These include massive amounts of artwork, custom bodywork, fabrication and very VERY intensive customer relation in getting what they want. The average crotch rocket that leaves my shop is a $1000 with a load of airbrush work over a custom color, or the same price on a very labor-intensive multi-candy color 1-off set of graphics. I've done race teams (4 bikes or more of the exact same design) for less per bike, but that's because I know I'll be doing them every year for a few years (plus backup peices for wrecks).
If you can find someone to do it for $400 total...even a friend, be leery. Materials to do a single-color, clear, sand and buff can easily run in the upper $300's, EASILY!! I've done a few jobs for friends, but I require that the only thing I'm doing is the spraying and 'helping'...their $400 pretty much goes to materials and about $50 goes to 'booth time' for compressor turnup, lights, power..etc. Most of the guys who I've agreed to 'help' paint their peices end up as not-so-close friends after we're done because they underestimate how much manual labor they will have to put in to get a 'free' paintjob that looks "100 times better than stock". Free ones are out there...but usually the shop only has one freebie in it...hopefully you're the lucky one. After the first freebie, the shop owner says 'screw this'.
PM if you need assistance with spraying your own or check out the sticky thread.
The 'hopper