I think right around the $8000-$10000 mark is spot on for an Eddie Giacomin all-star gamer from that era. The Dryden story with it is definitely a plus (you can see the outlines of the previous letters on the last picture on the listing). $12500 is a bit heavy, but it is a consignment item so that is what the person wants for it.
Giacomin Rangers gamers were already going for $12 000 to $15 000 a decade ago. With the game worn market itself booming in its own way, I'd wager now those would now be going for $18 000 to $20 000+. The most recent Giacomin gamer before this all-star one to hit the open market was a Red Wings gamer of his that went for about $5600. The team itself not being as synonymous with his career, as well as a very poorly chosen autograph location on it did clearly hurt the sale value on that one.