I don't know how people gauge it in other areas. But here, a farmer wants to pay in the area of $1000 for a bull. If he is just raising a few cattle to sell on the side, that is usually his range. If someone wants more, they feel they can go somewhere and find a bull for $1000, usually just out of a commercial herd. But then there are those that have decided to up the genetics so the calves will finish off heavier, and the heifers they save will pass the traits on, they usually go up around $3000. And you can spend more, just what ever your pocket book says and your conscience will let go of. Then those that get serious, go up to around $10,000 and up.
I personally would want to spend in the $3000 range. Give or take some. It is a chunk of change, but, your calves will bring your money back to you and the heifers you keep will continue to pass on the genetics to the next group. I am not into showing cattle, but do want cattle with good confirmation and good genetics.