I use the market as an indicator for everything from cars to real estate. I don't tell the market the value, it tells me as to the ask, then, what I'll settle for.
O.K I'll be the bad guy here. First off I only do stock vehicles. And, as much as I only do stock and love patina, the paint needs to have some redeeming qualities.
Without being to direct I hope that made sense.
Here is an honest perspective from someone who has been looking for a long time at this truck, I called and left messages with the owner, but never got too serious because I felt the ask price was really top dollar for what I was looking for and I didn't want to waste everyone's time. (I found one close to home, so unless I am trying to get divorced, I am out of the running on this one)
There is a point to where 'patina' ends and 'needs work' begins. I guess that is a matter of opinion and personal preference, but I came to the conclusion that if I bought this truck, I would need to do something about the paint, and lack of hardtop.
I have seen trucks locally (Northwest) in the 25-28k range in similar condition, maybe not quite as nice, but still seemingly good trucks. They are not really flying off of the shelves either. Ill bet they sit on CL for 20-30 days. Thats a fair amount of cash, and if you don't have in-house financing, most people simply don't have the money. Its the cheap trucks (5-10k) that go so fast because more guys have it and can hide that amount from their wives. ;D
If the ask price was in that $25-28k range, I could justify leaving the truck alone and not worrying about the paint, or have it painted and feel like I am not buried in it.
All these things aside, if this truck was closer to home, I would have at least taken a drive to see it and maybe try to make a deal, because it is pretty cool. However, I wouldn't try to give you a haircut and offer $25k on a rig you are asking $32k for. I would simply move on rather than risk "lowballing' you.
I build and sell houses for a living, and once one is finished and it is not selling in a reasonable time, there are only two things you can do. Wait around for the ONE guy who "falls in love" with your product, or drop your price. It just depends on how long you want to wait because everything eventually sells.