how much should i offer??

Some details on what the car originally was would go a long way towards determining a price. What color, driveline, options, and whats left is going to be very important to deciding on a price. That's where the fender tag, or more importantly the build sheet comes into play, it's hard to prove what the car should be just by word of mouth. If it was in my town and with just the description you gave, I would not offer over $1000.00 for it. The more options it still has might change that, but more info is needed first. Geof
Wow, you guys dont give much credit to friendship. Maybe these guys are more like brothers than friends and actually like to do things together. I had this similar situation many years ago (1984ish) with my old girlfriends brother on a 66 Barracuda and guess what, we are still good friends and he still owns the car. We went in half buying it, restoring it and enjoying it. I eventually offered to buy him out as i wanted to trade it for a Challenger but he decided he wanted to keep it instead so he bought me out. Good luck with the car and I would have to see some pics but as it sits I wouldnt think anything over $1000 right now.