The price is what ever you're willing to pay foe whatever it is and the condition it is currently in.

I bought mine for around $4k. It was located about 10-15 min from my house and had a current registration. I drove it home. Drove it around for a couple weeks then the clutch went out and I started noticing bondo everywhere.
No biggie, I might have offered less had I noticed but it's all part of the restoration game. Just another step in the process.

If you click the link in my signature to my blog and go back to the first post, I have everything documented down to the craigslist ad and my initial inquiry. You can see the condition of the truck when I first got it.