Fair price for used AR upper?

If it's in nice condition complete with bolt carrier group, I'd say $400 absolute tops. You can buy new uppers for less than that amount from a couple of places.
 
One of my favorite vendors (PK Firearms) has a Bushmaster complete flat top 16" upper, less carry handle/rear sight, for $515.

So yeah, assuming great condition and low round count, $400 (and I'd prefer it come with the carry handle or rear sight for that). Higher round count, no rear sight, lots of wear, that price goes down accordingly.
 
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