I am reading an article from 1843 magazine and not sure what the implication is behind one sentence.
This part of the article is about a stolen dog was sold by a thief to another person who bought it for $300. The dog was later found and the original owner then knew more information about the crook. The following is the part in the article.
de Grazia had picked up information about the crook from court filings and the local rumour mill. All of which may be true – but hey, $300 for a seven-year-old dog that de Grazia originally bought for about $1,500 from a “renowned breeder” is pretty respectable.
I don't know why the writer used the word respectable here. Does the writer mean that $300 is well worth the value of the dog? If so, the owner must think the dog is sold at a good price given its age. But I can sense sarcasm here which could mean $300 is too low compared to $1500. I don't know how I should read the sentence.