L.M.
My mom bought ours at ToysRUs for about $100. Word of wisedom though, that I did not know before we got one, it's hard to find kid appropriate music where the lyrics are readable by the screen. My daughter didn't want "baby" music (maybe your kids don't have this issue with wanting to be older than they actually are though....)
I bought my daughter (7yo) a current hits karaoke CD and they lyrics were terrible! When you hear the songs on the radio it's not so bad, when you hear your 7yo daughter singing Ke$sh singing "That magic in your pants, it's making me blush" ummm, NO.
And the more I tried to find good music, that my daughter likes, I realize that so much music isn't appropriate. Even karaoke "greatest hits" music is too adult - songs on them are "Like a Virgin" etc. We don't think about it for ourselves, but it's a wake up call when you hear your kids sing music like that.
Before you buy one, I'd make sure you can get music for it that your kids will like. They have some Disney Princess ones that seemed like a lot of kids would like, but my daughter wanted the pop songs she hears on the radio.
So we put our Kids Bop CDs in there and sing along, but they lyrics don't show up becuase they don't make Kids Bop karaoke CDs (that I have found). So in our family, it's a glorified microphone that is collecting dust.