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Unless the body is fairly straight and it doesn't need extensive rust repair, yeah a bit high.

 
Parts car. Could you restore it for less than you can buy a restored one? No. Unless it a 4 speed 351 4v car it's not worth every much as is.

I think to drive my point home there is a 73 Mach1 listed for sale in my area for $32,500. It's a nice car. The owner spent $115K on the restoration????

 
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