[lauralynne]

paint job alone on that car is going to be another $10-$15k - this is a HUGE project and he's not very far along despite how much money he's spent. And as a coupe, it's not a valuable. He's in over his head and should take whatever he can get - $8k is a GREAT deal - if he can get $5k and get it out of his driveway he'll be doing well.
1972 is not a desirable car. He might like it a lot ($20k spent means he does...) but generally the earlier ones are far more desirable (and worth more)
Option 2 is to sell off the parts he bought on Ebay - try and recoup more of the retail on those. How long has the motor sat open like that? And is there a power assist booster with the Baer brakes? Lots of questions to get a more accurate price...but generally he's NOT going to get $20k back out of it - not even close. But he'll get more out of it by parting it back out than trying to pawn off the package.