You simply will not know if and how much rust is on it until it gets stripped down. In fact, it might not even be a good buy at 20?
Who ever buys it, this will be for the passion of it.
I wouldn't mind but it still isn't reasonable. I'd take a guess and say this guy got it for around 10?
These things are labor intensive, will tie up a four car garage all by itself, and will take years to complete unless you send it all out. I say it will take around 80 to do it respectfully and then you need to make a decision on whether you "concours" the car or just make it a really nice driver.
A true accurate concours restoration on it is going to cost more then 80.
Buy one already done. It's cheaper and you can drive it right now.
Just my worthless opion.
