$1200 aztec pinball, worth $2500-$3000 when repaired??

Where do these people come up with these values?  I have NEVER known a single EM to be worth that much money, not even a popular title like captain fantastic.  He seems to think he's giving the buyer a deal by selling a non-working EM for $1200.  As a matter of fact, there's a fully working one on ebay right now for $700:
http://www.ebay.com/itm/1976-Williams-AZTEC-Pinball-Machine-Works-Completely-/180965413148?pt=LH_DefaultDomain_0&hash=item2a2261111c







I look forward to seeing this guy get a clue in a couple months as his price drops.