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The part can be purchased at the "BUY PARTS" tab on the top of your screen. For a W124 it's going to be $29 -$35. Do a search for regulator. I would be afraid to even guess what the dealer would want.
There are numerous write-up on the forum. Fairly cut and dry. Remove the 3 spade connector by pulling it off. Take out 2 screws and the brush/regulator pack will drop out. I use a piece of dental floss to compress the new carbon brushes, place back into alternator then pull the floss out. Put the two screws back in, plug in the spade and your done.
You can validate that this is your problem by checking the voltage at the battery with the car running. Should be over 13.4V.
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