What the heck is this and why isn't it selling

Personally, I wouldn't pay more than $500 for that car. But I don't like Posts. I am afraid of the work thatw as done to the rear wheelwells. It appears that maybe the inner fenders are gone. Not unusual for a racecar, but without seeing how the rest of the work was done, it's kind of scary. What we see is not good. I can't assume what we can't see is.