Just curious about a M-38?

I have been watching an M-38 that is for sale. I am not interested in buying it for the asking price, but wonder if this guy is asking a fair price or just trying to get lucky. Don't remember the year but it is military surplus, in fair condition overall. Body and canvas is OK, probably about the same condition as it was when sold as surplus, many moons ago. Supposedly the engine was rebuilt about 15K miles ago. It runs, just like a M-38, (not a hot rod). It has definite potential for a restoration, mainly just requiring work, and probably few parts. I don't have the time and don't want to do another restoration. ('41 Chevy, '65 Chevelle, '68 Nova, & '70 Chevelle)

He started out at $5500 two months ago, and is down to $3500. As I said its not worth it for me, if I got it, it would be for a local driver, just around here to beach and woods, in fair weather.

What do you think it is worth?

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