It's a custom color, all original, pre-CBS Fender. That being said, the value is, of course, only what the market ends up paying.
For my money, the bass isn't worth it. Were it a '60-'61 stack-knob Jazz in a similar custom color, original state, and condition, I'd shell out the cash if I had it to burn . . . No question. The market tells me that I'd have to pay considerably more, though. I'm not a Precision guy however , although I own several. For the right buyer it might be a no-brainer.
As to the anecdotal reference to the seller, they are in business to turn a profit. What's reasonable? On the face of it, it would seem that the seller is not, but I don't know their actual overall profit margins. I'd probably be hesitant to do business with them unless I came across a very good deal for me.
TL: DR - Not with my money, it isn't.