its all relative
Its all relative and what u r willing to pay. Whats the condition of the body? I bought an 85 300D early this summer for much less than that and it only had 100k. That aside however, I personally would not pay that much for it for a 20+ year old car. I can get a decent Kia, Hyundai, Honda or Toyota for $7500 with less miles.... not to say somebody won't pay that for it...
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the sooner you start... the sooner you'll get done  If it ain't broke, don't fix it..  Its always simpler to tell the truth... 
2007 Honda Accord EX
2007 Honda Accord SE V6
96 C220
97 Explorer - Found Another Home 
2000 Honda Accord V6 - Found Another Home
85 300D - Found Another Home 
84 300D - Found Another Home 
80 300TD - Found Another Home 
Previous cars:
96 Caravan
87 Camry
84 Cressida
82 Vanagon
80 Fiesta
78 Nova
Ford Cortina
Opel Kadet
68 Kombi
Contessa
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