Cost me about £250 for that stand my friend (and then I think about additional £75 for shipping). (I see on the US website they are still at US$399, which must be about right). That could be a youch factor as far as price goes...
I had my good old heavy bag already but if you don't have one you need to add that to the mix. But a decent muay thai long bag will not set you back that much and you can get that shipped to your house from UK suppliers without haulage costs.
A wavemaster is going to range anywhere from £190 - £350, you can get a decent one for around the £200-220 mark. But they are not the same and will not last as long as a good heavy bag rig, so depends what your options, time frames and desires are...
All the above are on a new buy basis, not second hand of course.
A cheaper option is just to man-up, wrap your paws in rope and start beatin' on some big tree growing in your back yard or out on the street (telephone poles also work just fine), that's how I managed to kill off the nerves in my shins so I suggest you do the same if you want to get serious.