Not surprised by the price. the movement looks pretty knackered and there's little to go by to evaluate the dial, but a black hobnail dial in good condition in that case type is very collectable.
Here's one MSNWatch sold six years ago in gold cap and white dial. $1200 which, apparently, was a good price then.
Hooded lugs - uncommon.
Hobnail dial - uncommon.
Black dialed bumper Seamster - very uncommon.
Together it makes for a very nice package.
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