Help with 88 Targa value
 

A friend has a 88 Targa with 120k miles. He’s looking to sell. Blue with black interior. It’s well sorted no rust and almost all service records since new. He’s been all over keeping it in good shape. Engine was resealed at 105k miles with new valves etc. What would be a fair value? I’ve always been interested in this car but I think he has a too optimistic view of market. Thinks he can get in High 40s. Want to be fair but don’t want to be stupid.
Thanks for the help

I'd say possibly upper $30's. High $40's would be a stretch with that mileage.