The seller is absolutely correct - this is an imposing lantern. I feel it is the largest form factor Halloween lantern the Germans ever made. These rarely surface, and when they do they are typically faded and tattered. I know of only a handful in this condition residing in collections. Sustainable guide value is $800-900.
10/13 Update: The SGV was blown away by the ending result of $1358.33. Wow! The one in the collection is just as nice, if not nicer. If anyone is willing to step up to the plate (sorry, really into the KC Royals' run...) I am willing to sell mine for $1,300 plus shipping.