I think I agree with Poogle, it is cheaper to buy a new couch. I would check newspapers for sale and craigslist also. I never ever buy new furniture, and I've bought some really amazing things on craigslist, like 4k kitchen set for $400. I had it already for 6 years and still in love with it.
I upholstered with leather 8 chairs in dining room. I've bought leather on ebay, something like for $40 and used only half. I loved the result so much that I've bought a sewing machine that should be able to handle leather. I am getting ready to upholster four chairs in my kitchen set above. I estimated that it would take me about $200 to buy leather (of course from Ebay). These covers will require a lot of sewing though... So Deb, yes you absolutely can do it. I am doing everything myself after discovering HGTV. I've learned to do just about everything: laying tiles, installing carpets (yep, I got those ones on ebay too
), I even installed recessed lighting in one of the bedrooms. Obviously, I repainted the whole house all by myself. In the same room where, I installed recessed lighting, I installed bamboo hardwood floors. These I've bought from Costco and total room cost me around $500 (10x10 feet). I used youtube, almost for all tutorials. Oh... I forgot, I replaced even all toilets (4 of them) in my house as well. My husband still can't believe that I was able to do all of that. The only downside, it takes ffffooooorrrreeeevvvveeeeerrr, since I have a full time job, where I average about 60 hours per week, and I also teach at the university when they need me. And of course, very often I have no prior experience either. I don't have children, so I guess, it would qualify as having a lot of free time.
For some reason, I can't conquer staining wood yet - I keep running out of patience all the time I start staining anything.
Unfortunately, the most expensive is going to be the labor, Tugger..... As long as you do a good research, ask your friends, search online, you will not get bamboozled. I noticed, when people are unhappy with any work, they make sure to post the comments everywhere they can. Of course, this is not a guarantee. However, for the most part, it really worked for me with very rare exceptions. Since you have a high-end furniture, I expect you will look for a place with a relatively long practice. Thus, you should be able to find plenty of comments online.