Jamster's price for his Linn is actually very fair. Jamster has brought this LP12 up to "speed" in the last 3 months or less IIRC and just the cartridge and Cardas external phono interconnect are priced at R6K+
Add to that the fact that his deck is in a great cosmetic condition, has had the Valhalla serviced as well as the suspension and it actually is a very good deal.
A deck in a cosmetic condition like his with an Ittok but even with a shagged out cartridge, droopy suspension and a borderline working Valhalla still fetches between R5000.00 and R7500.00 without too much trouble.
Anyways, I thought I would mention a few things about buying a used Linn that may be useful to know.
Condition and "status" is everything. There were various changes made to the LP12 over the years and a unit with a corner braced plinth is more valuable then one without. Early models also only had two bolts holding the top plate in place, 2 additional screws were added later. Plinths can warp, check that the unit sits solidly on a flat surface without rocking.
Items other then standard wearing parts (springs, grommets and belt) quickly cost a lot of money. A new motor with pulley for eg will cost the best part of R2K, a new sub platter and bearing assembly probably twice that.
Most LP12s that come up for sale need some attention. They typically need as a minimum a new belt now priced at R550.00. Often new grommets and perhaps springs are needed and a bearing clean and lube is a smart plan. I have no current price on these but in view of the recent increase in belt price budget about R400.00. You may or may not be prepared to fit these yourself. There are various places on the net that have some instructions but you would not be the first to destroy a cartridge or worse, an arm while flipping the deck over and back again balanced between two sets of books as you need to work on the bottom of the deck.
If there is a Valhalla power supply chances are this needs attention. The supply is permanently powered and the high voltage smoothing caps have seen way more then their recommended hours of life. There are a few other common failures. The short answer is to budget for a Valhalla refurbishment in the near future.
As the LP12 is a rather interesting melange of interdependent systems, replacing or repairing one item without adjusting the deck afterwards is not really the way to go. You may for example adjust the motor tilt for "correct" operation with a dodgy Valhalla or old belt. Once the belt or PSU is sorted, you (or your paid dealer/technician) may need to adjust again.
Check the bearing point for wear, if you carefully lift the sub platter out the bearing housing you want to see a nice smooth cone point with no rough edges. Many bearings on neglected decks have been run dry. Many bearings get damaged in transit, never transport an LP12 with the sub platter / bearing fully seated. Once checked, do not force the bearing down the housing, slowly let it settle with no or little downward force from your hands.
Having read all this it seems an LP12 is a dodgy used buy. It is not provided you check and budget for the above. Its performance in absolute terms is hard to beat for the typical cost of pre owned ownership and it has an ability to make music of just about any LP you put on it. This trait is not found on many decks out there and IMO is something the brits just seem to have gotten right sort of part of their house sounds. (Linn, Rega, Ariston, Revolver, Systemdeck etc etc)
There are many upgrade paths forward, either by updating with Linn items or third party products like Funk. Most updates quickly add up and may easily equal or surpass the purchase price of your used deck. Things like a Funk Charm or Linn Cirkus kit for eg. In view of this, If your intention is to slowly revamp a deck, buy one in a top cosmetic condition. This way you can build a real top class deck over a period of time that looks the part.
For some this is all too much trouble and I have in fact sold some Funk's to people who rather traded in the LP12 and be done with it. A Funk, like this one
http://www.avforums.co.za/index.php/topic,1712.0.html I have for sale, will outperform a neglected or older model
LP12. In several areas it is as good as a quite well set up and up to date unit. I have been reminded of that again after playing one with an RB300, Incognito wired with Michell Technoweight upgrade over the last two days. I have never put such an upgraded arm on before but it is scary what she does with one.
Back to the LP12. If you are a novice on the LP12, enlist the help of someone who knows them. Perhaps you have a dealer in mind to do the set up for you and from whom you may intend to buy a new cartridge or whatever from. Ask that person to check out your proposed purchase, ultimately he is more likely to give you a fair appraisal of the deck then the seller even if that seller is an audio dealer.