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Prices are all over the place, and condition makes a very big difference.
Here in California, where we have a lot of 912s to choose from, a 912 can be worth from $2000 to $20,000. A parts car will be in the $2000 range, a rusty but drivable car maybe $4000, a clean driver about $8000, a nice garage queen maybe $12K, and a proven show winner somewhere north of $15K. Most cars seem to fall into the $8-10K range.
Rust is a big issue, as fixing it is very expensive (much more so than engine work), and Porsche didn't start rustproofing cars at the factory until the late 70s.
On the East Coast, there are fewer cars to choose from, so the market is more volatile. Rust is much more common there, so a really rust free car is worth more. Almost none of these cars are really rust free unless they've been recently restored. Any visible sign of rust usually means there's more lurking where you can't see it.
The bottom end of the engines can often go over 100K miles, but most require a top-end (P&Cs, valve job) rebuild at 50-60K miles. Top-end rebuilds aren't all that expensive by Porsche standards.
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