My neighbors used to have a diesel version of this bodystyle. They paid $600 for it and drove it several years, until a large tree blew over and landed on the decklid. The windows didn't break, but the structure buckled enough that you could see daylight around one of the rear doors. The insurance company gave them three grand and let them keep the car, which they then sold to someone for more than their original purchase amount. The new buyer used it as a daily driver, unrepaired.
By that measure, $1850 probably is pretty reasonable for the car featured above.

Dammit. If this were closer to me, it would be in my driveway by now. I frequently peruse local listings for a 2.3-16, and this is a stellar price on a solid southern example. If you hadn't listed a price I would have pegged it around $3500, or nearly twice the asking price. The high miles would keep it from being worth much more than that, though.

A former co-worker had one of these for awhile. He bought it from a guy in SoCal and brought it back to Texas. The underhood wiring on the thing had been jury-rigged (in attempt to bypass various non-functioning parts), and even a German mechanic here couldn't make it run right. It eventually was sold (to another guy in SoCal).