What's a 1975 1.8L project worth? Options

[andreic]

Someone in my general area is selling a 1975 project. I haven't yet looked at it, but the owner says the motor has been completely rebuilt by a local shop (no details provided), possibly up to 1.9L. The L-Jet FI is included but no guarantees on its condition. The engine and transmission are out of the car, which has been recently repainted by a local shop (probably a decent driver quality paint job, nothing special).

The seller says the car came from Oregon and has no rust. I have not yet independently confirmed this, as the car is more than 3 hours away from me. If I were to go take a look at it this would be the first thing to check. The interior is in rough condition and will need to be replaced or redone somehow. (For example the dash has a split in it.)

The seller asks $5000 for this project. Is that high, low, etc.? What would it be worth?

I apologize if this is the wrong forum for asking this question. I am happy to move it to another category if people suggest that I should do it.

[MikeInMunich]

Basically, Jeff went straight to the point which I beat around the bush to get at, more or less. For perspective, look at the Blue 1972 here on this forum, cars for sale, which just sold for (only) $7,500. if it ain't gunna be a labor of love, it'll be closer to a nightmare and losing proposition. A more fair starting point, price wise, would be more like 2,000 bucks. 5k is just too much.

Here's a perfect example of why not to pay anywhere near 5k for your non-running project car.

http://www.914world.com/bbs2/index.php?showtopic=317988