Fair ask. A$1,500 sits right around the going used price for Gieseler’s PCM1704K-based Kompakt II, with recent references showing about A$1,500 for one listing and new pricing around A$1,350, while higher-spec or newer asking prices can push to A$2,000–A$2,250. So this is not a bargain-bin score, but it is sensible if the unit is complete and clean.
What makes it worthwhile is the sound: the PCM1704K has a strong cult following for its natural, dense, non-glare presentation, and Gieseler’s implementation is the bit that matters most here. For a buyer, the upside is getting a respected R2R DAC from a boutique Australian maker without paying fresh-retail money. At this price, I’d mainly want confirmation of exact model/version, remote and power supply, and that it’s functioning quietly on all inputs.
Independent perspective — not a price guarantee. Always verify condition, accessories and provenance before purchase.