About 6 months to a year ago I'd have say that it was somewhat over priced, but with the dive in the Rand, its actually an OK price now if its in immaculate condition, and the case is decent. Personally, I'd still say its a little overpriced, and R6k would be a fairer price, but since he originally listed it at R8k, at least its a decent step in the right direction.
Bare in mind that these are Chinese built Gretsch's (for whatever that's worth) so won't really hold its value too well, but you'd be looking at R12k plus for a brand spanking new one at present.
If I'm not mistaken, Greg here was also selling his 5120. I think he wanted something like R12k for his, but that had some serious upgrades like TV Classics fitted, and a new custom bridge. I've also been toying with the idea of selling my Korean 'Historic series' Gretsch, to help pay off some of the debt I owe the missus for some recent purchases. I can tell you that I won't let that go cheaply! It really will be a last option for that to go, but we'll see how patient the missus is with me? Either way, I can recommend both the Chinese, and the Korean (more so) as they are really good guitars, and very well put together.
Hope one day you get to have your Gretsch! ?
Regards
G!