Powder coated or high quality black paint for metal railings?

I’m replacing an old wood handrail but also the full railing and bannister setup that goes along my staircase and living room along it.

It’s $3000 to do it with Sherwin Williams industrial Pro oil based black paint (sprayed not brushed)

It’s $4000 if they do powder coated.

Worth the extra $1000? Pros and cons to each option?