I agree that price is a bit stiff but that is a ridiculously tough book, especially given the demand. Are there any other bronze-age beaters that would command that price? Along with Star Wars 1, the Iron Fist 14 35 cent price variant has been known the longest. It is a key book and too date after years of searching, there are still only 24 price variants certified (compared to 1456 of the regular issue).
According to GPA and my STLcomics price variant mafia notes of sales of that issue, here is EVERY CGC sale of that book. Since CGC started, the book has never been cheap and Overstreet has never really had a full grip on price variant prices. In my opinion, the best deal recently was the 7.0 that sold in April on ComicLink for $1100 and is not on the CGC census.
As you can see, I don't think that this book will ever be cheap.
2.5 sold in Jan 2009 for $475.
3.5 sold in May 2008 for $351.
3.5 sold in May 2009 for $400.
6.0 sold in Nov 2003 for $345.
6.0 sold in Mar 2006 for $735.
7.0 sold in Jan 2004 for $1100. (different book than ComicLink sale)
7.5 sold in Jun 2004 for $1025.
7.5 sold in Apr 2005 for $1325.
8.0 sold in Jan 2005 for $1225.
8.0 sold in Oct 2006 for $600 (bargain).
8.0 sold in Oct 2008 for $1729.
8.5 sold in Feb 2005 for $1601.
9.0 sold in Jun 2004 for $1100.
9.0 sold in Sep 2007 for $1975.
9.0 sold in Nov 2007 for $2500. (private treaty sale not in GPA)
9.2 sold in Jul 2002 for $1500.
9.2 sold in Oct 2008 for $4100.
9.4 sold in Sep 2006 for $5100. (this is still the one and only highest graded on the census, followed by three 9.2s and two 9.0s)
If a 9.2 sold for $4100 in Oct 2008 what would the 9.4 go for now. Would it do as good as the GL #76 9.6 or better?