Doing a $500 repair to a car does not increase the value of that car by $500. Likewise a car for sale that needs a $500 repair does not lose $500 of value. Using that logic, most 928s that change hands would have the seller paying the buyer.
With an old, cheap used car the pros and cons have to be balanced to reach a value that is fair to buyer and seller.
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leakdown was great. New rod bearings, very dry engine, new control arms, clutch, radiator, (and a bunch of other stuff I'm forgetting).
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What if it didn't have those things? It's a double standard to deduct from the value by exactly what the problems you found cost to fix, but you don't give monetary credit for the work already done.
That said, be reasonable and most of all respectful, don't lowball and you'll probably get a good price. You're talking about a cheap car here. I know I wouldn't tolerate being insulted over a cheap car.