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Found a Dart GT: Value?

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I found what I think is a 68 Dart GT that I'm attempting to buy from the owner. It's a 2 door hardtop and I think was originally a 273 V8 with a 4spd. The car currently has a 383 and an auto transmission. It's been off the road for ~16 years and needs a total resto due to rust, cracked dash pad, minor body damage, etc.

I don't want to insult the owner so what kinda of $$$ offer should I make him?