Beautiful guitar; I love the wide flame, very classic IMO. I think that is at the upper limit of what R9's are going for but anything is worth what someone is willing to pay for it. Very subjective unless you are a serious collector.
For example I just purchased this lovely 1999 R9 for a lot less than $4.5k. I walked away from several opportunities because they were not in my budget. Patience is a virtue especially if you're on a budget.