A fair price would be one that both parties are happy with.
Some pictures would help us to determine the average selling price.
Is it rusty? Has it ever been painted? Is it ready to drive?
Trucks of that vintage that are all original and have never been restored, but LOOK like they could have been regularly sell for in excess of $6,000.
All original trucks with faded paint, the occasional scratch and dent, and look like a reasonably kept truck that has never been restored sell in the $3,000 to $5,000 range.
Trucks with rust thru, or alot of surface rust but are generally solid and run (may need brakes, tires, that sort of stuff) sell in the $1,000 to $2,500 range.
Trucks missing pieces, or are in generally rough shape fetch anywhere from $500 to $1000.
Those are general price ranges based on what i've seen them sell for online, national classifieds, and from eBay.