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Santa Barbara or Central Coast - What is a typical budget?

Hi! 

I am recently engaged (whoo!) and my fiancé and I would love to have a black tie wedding on a lawn with an ocean view in Santa Barbara.  After looking around a bit, it looks like we might be looking at $750-$1,000 per person. We are expecting we will have 150-200 people so this would be $150,000-$200,000.  Astronomical. Is this right? Has anyone had a black tie wedding in SB for less than $750 per guest? Also open to other locations - basically anywhere from Santa Barbara to Monterey. 

A venue we have looked at is Rancho Dos Pueblos, as an example of what we are looking for. 

Would love any advice! 
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