If you go on anglia car auctions kings lynn and look in results for oct 2010 this car made £ 250 !!!
Excellent bit of detective work there... makes it seem rather expensive now but then £250 is a giveaway, very typical of a regular auction where everyone present would've laughed at it and talked of subframes falling out etc etc etc...
I think the price is reasonable but I'll bet he'd take less...
I sold a seriously beautiful condition HPE last year for £2,700 so I'd say £1,350 max for this one. Just my opinion.
Andrew.