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Fish the reel. Used 700s usually don't even bring $100 on e-Bay. They really only have value to a collector who'd want a mint greenie for his display case--and almost all of those guys already have one 700 in their collection.
Penn was THE name in saltwater reels for almost 70 years before they changed ownership, and there are tons of their more common reel models out there.
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Threaded Mode