It's a steal.
Here's why...this is what the individual wraps sold for:
Action 1 5th wrap $6353
Action 1 6th wrap $3010
Action 1 13th wrap $1300
Action 1 14th wrap $890
Action 1 15th wrap $850
Also a 1st wrap sold for $3100 several years ago...pretty sure it would sell for much more.
That's $15,000 for less than 1/2 the interior with 10 (or 11 wraps) still to be accounted for. Then you have the cover, which would easily be a 5 figure piece.
There are several incomplete copies of Action #1 out there and if someone with an interior were to purchase this copy you basically have a $90,000+ plus book by adding one centerfold.
Thats convincing figures you are pulling, - that is *if* its legit to calculate complete-copy-value by adding FMV for each wrap?
But thats the problem isnt it? That for the big ticket books value is not easy to determine? So nobody can be blamed for trying to calculate what is cheap or steep. There was an Ext 4.5 Tec27 that sold out of metro a year ago in the mid 30K range. The UK Ext. 4.5 sold recenly for close to 50K.
An Action #1 I guess is even more incalculable when it comes to determine FMV at a given moment in time ...
Well, considering FMV entry level price for a complete Action #1 is going to run you approx $100K (remember, even a ratty copy that is restored to EP is a $100K book) and the wraps have never sold for more than $6K, I just can't call it anything less than a bargain.
Remember, all you need is one wrap to transform this book into a complete copy.