If this is the car that was discussed here not so long ago, that seems low to me—and no, I cannot believe I just typed that.
1.7 aside, it seems to be a far better car than some BUB 1.8 and 1973/1974 2.0 cars that have hammered for more in recent years. The finishes, originality, gaps, preservation, and overall condition of this car blew me away. I have no desire whatsoever to own a 914 like this, but I can see where someone who wants a truly original one in a great color "just the way it was" would pay up for it.