The price depends on the quality of the material used. I paid about 3 million dong for a Cao Minh suit about 3 years ago. Prices can go much higher depending on your preference.
I have dug out some old business cards and came across another good tailor. Her name is Hoa and her shop is located (at least used to be) next to Vine Restaurant outside the Sheraton. If she has moved, I am sure the Vine staff will know where she went. Highly recommended.