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@AndyA
It sounds like they want to tap it out to italian size threads, this isn't so good as italian bbs aren't so common. When I do it, I cut italian threads into the shell, then put in a threaded insert with standard 24tpi british threads on the inside. Works really well, has saved many a frame with borked bb thread. I usually charge £50, but as I'm in Edinburgh you'd have to ship it too. Usually that's 20-30 return depending on insurance etc. Argos Racing Cycles in Bristol do the same thing for £75. I'd try a different axle, 75 is a lot of money to spend on a raleigh medale!