Is $1,200 to replace pool tiles a fair price?

I am newer to the pool scene. This year after opening, I noticed a bunch of the tiles had fallen off and there is a large crack behind it in the foundation. I was told that since the crack is going from the bricks down to plaster, there is infiltrate and water will continue to seep in and expand the crack. If I can get some years out of just a tile repair, then I might go that route. I just bought the house and moved in, and I believe the water level was about halfway up the tiles when we reopened the pool.