what is this 1971 worth for a project

From my perspective, it depends on how much MORE you're willing to spend on it to make it right. It certainly looks like a street/strip car - fiberglass racing buckets, ratchet shifter, big tach, no heater hoses, skinny front tires with what look like slicks in the rear, etc.. No cage, though. It would make me question how hard it was beat on.

If you're buying it for parts, then determine what the cost/value is to you and bid accordingly.

If you're buying it to restore, add your high bid estimate to your estimate for repairs, then calculate if it's within your budget. If you're going to bid $2500 and spend $5500 on repairs, then you're going to spend roughly $8k. Probably more, as you know how these things go, but let's keep it simple.

If you have that $8k budget, you might be better off finding something straight and running for the money. Just a thought.