4000-5000 means 4500 to me. No box no papers, that price is a bit steep. What year is his watch? I only ask because I got mine at the Panerai boutique store in Italy 3 years ago when the retail was 4400. I believe now the retail is 5600. I would aim around 3500-4000 given no papers and no box. That's what I've seen them for in Paneristi.com and that comes with box and papers. Anyway, it is a great watch with classic good looks.
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