I quarantine everything, even post-quarantine fish from other public aquariums. Depending on the confidence I have in the health of the fish, I might abbreviate the process, but I always do something. However, you need to do a risk assessment of the incoming fish against the rest of your collection. In my case, I'm bringing new fish into 100,000 gallons of exhibits, so the risk is huge. In your case, a $1000 wrasse (what would that even be?) may be more valuable than the rest of your collection combined. Quarantines, even when done properly, are certainly not risk free.
Jay