You can not effectively re-paint without recovering.
Re-covering at a rough guess will cost £5k
A three colour paint job (Pitts starburst a la Gene Soucey) £5k
Then you'll need to budget a few hundred for the inevitable repairs that will become apparent after the fabric is stripped off so figure somewhere around £12k and about 2 months out of commission.
Both Flick-off and I can highly recommend a man in the Midlands!
Alternatively you can probably do it all yourself (easier if the aircraft is on a permit) IF you have the time and determination.
So the question really is - which one have you been looking at?
Stik