not only did that go for 1400, but it was a low BIN,which is why it went within the first few hours of being put up. If he had no BIN on it I would guess that guitar would have gone for closer to 2k. Seller cost himself about 600, but he got what he wanted,and quickly, so if that is good for him, even better! Someone got a steal there!
The reason is that was a rare transition MC500 with the master tone. Those did not show up full time until the 1980 MC550.
One thing to keep in mind RE: Musicians (if you are someone who wants to chop one up for Jerry mods, like me and many others have done).
If it is a real minty version of specifically a 350, 400, 500 or 550, you may want to think twice about chopping it up. If they have all their original parts (especially the 3 EQ based models 400,500 and 550) and are in nice shape, they have real collector value these days which will be gone the minute you do mod # 1 (although you will have a fantastic guitar!). If you are going to chop one up, you are better suited to getting one that already has an issue or 2 (If it is a 400 or 500) or most have little issue chopping up any 100-200 or 300, because they were many more of them, and didnt have the initial value of the 400 and 500's.
I am pretty much persona non grata to a few people on the Ibanez collectors board because of what I did to my MC400 (hey its my axe,so F' em! plus it had a strat angled jack put into it before I acquired it so it wasnt original anyway!). I have a mint 79 MC500 with a working original EQ and everything that I will NEVER mod. Bought it in 99 for 320 dollars! Could get probably 6 times that 10 years later, but it aint going anywhere.
.......................................................have you heard the one about the yellow dog?