It sounds like your getting a deal, I would'nt hesitate to assume it would be worth 12k easy. I mean if its mint and 38k miles. I wouold expect any fox to go for that. The trend is iffy hear lately, some cars simply blow me away and the owner HAS to get rid of it, so its cheap, then again you have "scalpers" of a sort charging premiums and thier getting it.
Searching for a 86 my self. Congrats!
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1995 Black on Black Cobra- waiting to awake.