There are two reasons why: parts and labor. New CV joints typically cost anywhere from $65 to $150 or more depending on the application. A CV joint has a lot of metal and precision-machined components so manufacturing and tooling costs are high.
NOTE: You can save some money by going with a rebuilt joint, but it's still going to cost $35 to $90 and may not hold up as well as a brand new joint (durability varies greatly depending on the rebuilding procedure used: some joints are overhauled using oversized components to compensate for wear while others are remachined to restore like-new tolerances).
Labor (unless you're replacing the joint yourself) is the other factor that adds to the cost of replacement. CV joints are mounted on the ends of the driveshafts located between the transaxle and wheels in a front-wheel drive car. To replace a joint, the driveshaft must be removed from the car. This, in turn, requires removing the wheel, removing a large hub nut that holds the outer end of the driveshaft in the wheel hub, disconnecting the lower ball joint from the steering knuckle so the end of the driveshaft can be pushed back through the hub, and disconnecting the inner end of the driveshaft from the transaxle.
With the proper tools and a hoist, a skilled mechanic can usually remove a shaft in an hour or less. But most shops charge according to a "flat rate" system based on "average" labor times published in a manual. These times are established by the vehicle manufacturers and/or the flat rate manual publishers. Most good mechanics can easily beat the flat rate times, and earn themselves a commission on the difference. Unfortunately, you still pay the same as if it took them the full amount of time to complete the job. Hey, nobody said life was fair.
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