Now, relax. It's not a bad price by any stretch of the imagination, especially for a Monarch as they're kind of a novelty right now. It's just not a stellar price, it's about average for what the market would pay.
And the reason for the price being so "ok" and average was that the guy was selling it to the highest bidder on a forum.
I just bid 300 right off the bat because 1TH @ ~1000W costs about 400 euros on the Finnish second hand market and S3's are 200-250 so the right price for a Monarch therefore must be 300 with a certain BFL sex appeal bonus. I ended up being the only bidder after a week of waiting for somebody to outbid me.
Pics coming in three hours so stay tuned. Spoiler alert: It looks like an ordinary Monarch. And the bfgminer screenshot will look like a Monarch running 600 GH/s with 1% rejects and 3.5% HWE. If I remember correctly, Eligius is seeing 575 GH/s as the 3h average hashrate. The unit is labeled as "550GH" by BFL.
Thanks ckolivas! I'll try it.