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Where are you and the car currently located? If you're still in NY or the north, then a little rust is acceptable and $2500 would be about right (the highest one should probably go for it). However, if the car is in the South or somewhere where rust isn't normally a problem, then I think the owner is expecting way too much from this car.
A 1993 240 is nice, but there's no reason to go that high if it's rusted. If you're in an area where you can probably find a 240 with less rust if you just look around for a little longer, I would think this car shouldn't go for over $2000.
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'89 244 GL -- 111,005 miles (see profile for info on car)
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