Almost 10 years ago to the day, I started a dedicated 7A38-xxx model specific thread for this variant on the old forum:
7A38-6000 SAA039J - Stainless small size 'Diver / Panda'. I maintained it religiously and it ultimately ran for 9 years to some 14 pages and more than 270 posts. It encompassed everything from poor well-worn barely recognisable beaters to NOS condition examples. If you didn't follow it in the past, may I suggest that you read through the last few pages, starting at page 11, which will give a good idea of where prices are heading and the reasons why.
Although the 7A38-6000 SAA039J was nominally a worldwide export model, a good proportion of NOS examples continue to turn up on eBay Italy. Italian eBay sellers have frequently asked ridiculously inflated prices for them. Indeed one such was asking $1500 as far back as July 2012 (it eventually sold 6 months later in January 2013 for a more realistic $600).
Over the last year or so, one Italian eBay seller has done more to inflate prices of this particular 7A38 variant than any of his greedy predecessors. He calls himself a 'collector' but from his actions, including some blatantly shilled auctions, he's clearly just another dealer / speculator out to make a fast buck - and indeed lots of them. I am of course referring to oysterdelarge727 (and his various other eBay aliases), a.k.a. Giuseppe. Here's a recent partial quote from a parallel related thread in the 7A28 model section:
He now also holds the additional distinction of offering the most ludicrously over-priced Seiko 7Axx, by a considerable margin, listed anywhere on eBay worldwide.Seiko7A38 wrote: ↑Wed Feb 02, 2022 11:12 amI had intended to write something about these last month, but workload / other important priorities took precedence. Greedy Italian eBay seller oysterdelarge727 (a.k.a. Giuseppe) has long since usurped the dubious honour of undisputed 'King of the Crazy Prices' from Alberto Ulmi.