teak wall system - question about value  

I think you're about right...
I think you're about right with your price. I'd buy it from you if you were in Oakland, CA.

I bought this
exact same unit for my son's college apartment. I can't remember if it was made in Romania or Yugoslavia, but it was one or the other. I think I paid about 155 USD for it in a second-hand store in Clemson, South Carolina.

A good lesson has been...
A good lesson has been learnt. By trying to advertise on the forum, your $500 wall unit is now worth $155.
😉

Suzanne,
Depending on where...
Suzanne,
Depending on where youre located, you can get anywhere from $700 to $1500.
Also, I could swear these were made of rosewood and mahagony and manufactured in Yugoslavia.

Is an
object worth the lowest recorded price, or the highest ? Isn't it more a matter of what you can get someone to pay for it -- what it's worth to a particular person on a particular day ?

I will warn
you it's not very sturdy. My son ended up wiring the legs together down at the bottom as a sort of bracing device because it swayed back and forth quite a bit.
Of course that could also have something to do with the amount of crap, err, stuff he piled on it.
It looks great in his room, though. He probably has one of the coolest rooms at Clemson with that storage unit, his Mr. Chair and a credenza with a built-in turntable and speakers. It's also a good way to pick up girls--"hey, do you want to come to my room and hear what a real album sounds like?" Ha!

That being the case
It may be worth far more than we imagine. 🙂