Joined: Jan 2008
Posts: 23,645
Likes: 1,109
From: Mans of NC & SW UT Desert
Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more
$40 would be about right, given condition and grade. Best suited for someone with the time/tools/aptitude/pile of parts, otherwise, you can end up upside down on bikes like this one.
With a good stash of parts and time, you should do just fine.