Buying a project 1991 M5

There's a 1991 m5 that iam looking to buy as a project car. The things wrong with it is: first piston/valve broke, exterior needs to be painted and plastics replaced, leather needs to be refinished its been cracking in the sun, all fluids need to be flushed, and the car has been sitting for about 2 years. The guy selling it wants 6200 for it how much do you guys think this is a reasonable price? If not how much should I ask?

Need some help here bump

Any help here?

you can't win on this project.
wait for a better car.

the engine rebuild will be more than your original purchase price.