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It's definitely more than a bumper repaint. The bumper cover will have broken mounting points, will have creases from being crumpled and twisted, the exhaust and bumper are probably bent, the unibody may have subtle damage, etc.
This is trying to make a quick buck taking advantage of someone who's excited to get into a Porsche and doesn't know any better.
If you can inspect it, know what you're looking at and how much it costs to fix, you can make a rational offer. Including allowance for what you can't see/ don't know.
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