Projects "never pencil out" to equal there finished restored values.
Rhinodart felt this might be a $8-10K car without any pictures. And the one picture showed barely communicates any condition of the car.
There's people that will overpay for projects because of lack of knowledge or cash on hand. Or they have great talent and connections to restore the car with not a lot of cash. Or they allready own a stash of needed parts. Or just a way own something cool that they can't really afford to actually restore or have the talent to finish (garage/lawn art)