I feel like the Seiko defender here. I know we are used to dealing with Rep prices, but as a wishful WIS I like to remain objective.
This is not overpriced in the least when comparing the technology, accuracy, durability, etc. (One Second Per day, 72hr Reserve, hand assembled, smoothst sweep of any mechanical watch)
I held and played with the Seiko Ananta GMT. http://www.seiko-ananta.com/ At around $6000, this watch literally destroys my Gen Rolex Explorer II or GMT IIc at a similar price point. My Explorer II feels like a cheap chinese rep compared to the Seiko. In a toe-to-toe battle on mechanical merit, I fail to see anything close in this price range. (You can own a Spring Drive just under $4000 new).
I think the hang up here is with the "Brand Name". If these were coming with a Rolex crown on them, they would be sold out and you would be paying $20,000 for it. So in a way it is a value in the world of high end timepieces.