Sharp eye Greg. I'd say that unless someone really desires to pay more because of the provenance with the PU cracked its worth somewhere in the neighborhood of $4,000. I've got three series I basses all about that age and two are in better condition and I paid no where near what the seller is asking. However, it is certainly his/her right to ask for whatever he/she thinks might be paid for it. You never know who is going to come along at just the right time.
I'd agree, however, that there are a lot of Alembics out there that either never sell or eventually are purchased for a lot less than that for which they were originally listed.
Understood Hammer, but the market has definitely changed since you last bought a Series I. What year was it when you last purchased one?
Yeah, several years ago $4k would have been on the upper to high side but today $4k is definitely on the low side.
The days of getting them for under $4k are behind us. (unless they are beat up and in need of TLC of course)
I believe that if the seller priced it at $$4500-$5000 it would sell within days.
(but he probably won't because based on all the other overpriced Series I's out there, the seller has the false sense that his asking price is reasonable.