More than fair really, most of the new ones I've seen are starting in the $765-$780 range. I would find out how long he's had the gun though.... If there's a chance that its a really old one (I mean not made in the last 15 years or so), I'd try to get him down lower. There were some issues occasionally with the barrels Ruger was using before they started making their own. I can't remember when Ruger started making their own barrels, but anything that's newer than 15 years should be ok. As goofy as it sounds, depending on the popularity of the #1 in your area, it's entirely possible that the gun could be that old. I see them on the auction sites all the time.