@Op, prices fluctuate very much, especially when it comes to Mobiles.
Reason? Once a new model launches,(In this case Galaxy S5) previous models start to lose value. Yes, it could have been for that much brand new, but it has dropped.
I bought HTC One X for 56,000-/ and sold for 34,000-/ after 6 months, lost 17,000-/ on Galaxy Note II.
iPhone 5s was over 1 lac when it was launched in Gold, check the prices now:) The person cannot demand close to what he bought it for, gotta go with the flow.