Yes, a little bit high price.
If the bike has good tires and it all works then you are paying for more than you need since you are getting a geared bike that works well.
I would offer less or move on and look for a bike that has a good frame but parts that don't work so well so it will have a lower price.

I did the same thing a year ago when looking for a good frame to convert. I got a nice geared bike and took all the components off, hacked all the hangers off for the "clean" look. I should have kept it as a geared bike and ridden it.

I ended up buying a frame and fork to make a fixed gear and got a really nice geared bike and left it alone.