I take it the seller is not an engraver or collector himself. I always love no reserve auction's that have a $3500 reserve. Curious to see if anyone bids on it.
I may get proven wrong but, I don't think anyone will bid at that opening price. Especially with it being an unrated new seller. I'm thinking it's more in the $1500 range... maybe. Time will tell. I've found that if you start low you will attract more bidders and sometimes it turns out like a shark feeding frenzy with the bidding going higher than you figured it would go. There's always a risk to going too low and everyone has to decide that for themselves.