I had the same problem with my 2012 SR5, and yes it does cost that much.
But make sure you do your homework as there are two clock springs available for that 2012 series of SR5’s and it comes down to the last digit of the part number.
The part numbers escape me right now, but from memory one is approximately $200 and the other one is around the $850 mark, and of course mine was the more expensive one.
I cannot stress this point enough as it is an electrical item, and once you buy it, you own, no refunds given.
I had to get mine done as the horn was not working, and rego was due, and it wouldn’t pass due to a faulty horn, so I had to bite the bullet.
My advice to you is you can try your luck with Toyota Australia and ask for a “out of warranty repair” and see if Toyota Australia will come to the party.
I had mine done last year, and from memory I think Toyota covered 50% of the parts and 50% of the labour, but don’t hold me on that, as it was over a week ago
IF you are successful in having this option done, Toyota Australia asked me for a copy of my entire service history. I had my car dealer serviced until the 150,000km warranty was up, and then I serviced it myself. That was the only demand I got from Toyota.
As far as aftermarket parts go, you can try it, and it might work, but it might not. The way I look at things in this instance and for what the item is, and the job is does, sometimes, just sometimes, it might be better to go genuine, as you know it will be the right part, providing you have a switched-on Parts Interpreter.
Let us know how you go.
Regards,
Skrewdriver