Check ebay and see what similar items are going for, remember to consider shipping as well. I was a t-60 owner when I checked a pawn shop back home. They had only one Peavey, a T-40, and I had just bought another bass, so I really didn't consider buying it, until the clerk said he could get it for me for $189. I jumped on it. Those things happen only occasionally, so as someone else has said, if you feel good about the guitar and the price, go for it.