Hammer and Pasewark, where are you seeing 5-string, series 1 or 2 instruments in this price range?
I see many older 4 strings, series 1's in the $4000 - $7000 range depending on options and features. I have never seen a 5 string series instrument for less than $5000 and we know what a new one of those costs. My research shows that the 5-string Europa's are very popular. Much more so than the 4 or 6 string variants.
The prices that Susan and Mica need to charge for new instruments continues to rise due to wood scarcity and other factors.
A new Europa 5 with similar features costs more than $10K. A used one in great condition with nice features, recent RF noise upgrade, service and clean bill of health from Alembic in Santa Rosa is worth this kind of money... maybe a little less, but not a lot less.
Alleva-Coppola and Sadowsky (Fender clones) are selling for this kind of money or more and the Europa is a nicer, more versatile instrument, imho. Stepping off soap box.