" of something you want to buy. You are not buying the price! You need to ask What is the real price ?
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You ask "How much is it?" of something you want to buy.
You are not buying the price!
You need to ask What is the real price?
It's unclear what the difference is for you between the price and the real price, but the grammar is OK.
CJ
I guess he meant the original price (previous price), especially when they make a discount on some products.
For instance, the original price was $100; after making a discount, it became $50.
*Customer: how much is it? OR how much is cost?
-Seller: it is $50.
*Customer: What was the original price?
-Seller: it was $100.