This is a fair ask, maybe a touch firm, but not out of line for this DAC. The cleanest current benchmark I can see is the maker’s own new price at A$1,350, while recent used listings for the same family of Kompakt II/PCM1704K units cluster around A$1,325 to A$2,250, with A$2,000 sitting in the upper-middle of that spread; that makes this more market-level than a bargain, but still plausible if condition and provenance are strong.
It’s worth buying because the PCM1704K-based Gieseler boxes are well liked for that dense, natural R-2R/ladder-DAC presentation: strong tone, good flow, and a non-fatiguing top end that suits long listening sessions. If it’s genuinely tidy, original-owner, and comes with the right PSU/cable and packaging, that helps justify the ask; at this price I’d mainly want confirmation that everything is stock and operating properly, rather than hunting for a discount.
Independent perspective — not a price guarantee. Always verify condition, accessories and provenance before purchase.