In my opinion, that's upper-high end price for that particular bike, although I have seen minty original examples sell for much more.

It's difficult to tell from that photo, but I can see for sure that the saddle, chainrings, seatpost, cables and possibly the handlebars are not original to the bike. It's also obviously missing the pedals, reflectors, spoke guard and some of the decals. I'd also check that the rims are the original Ukai 700 x 25c as their profile looks odd to me in that photo, but it might just be the photo. Minus more value points if it's missing the gold uniglide chain.

On the good side, the Sky Yellow is the most difficult to find of the three available colors and was ony used on the 1980-82 Legend. If the paint is in great shape that's where a lot of the collector value will be in that bike.