So a wrong turn down a long dirt drive in a more rural part of Florida placed me on the property a good ol' fashioned Florida cracker's (said with love here) trailer and pole barn (I was recon'ing a potential rally-x spot). In any case, low and behold the old feller living there has a '72 Alfa Romeo spider (2 liter with SPICA injection) which intends to sell. It's been under a car cover, under a tree, but it's definitely a project in need of love. Original paint, straight body, 95% complete, interior soaked because the top is shredded, mostly solid with rust just showing in the lower rear quarters, underbody/chassis unknown. I know it's an Alfa and it's got standing water in the floors, so underbody rust is probably a given. And he claims it runs and drives when the battery is charged up.
So the question is, what kind of price would be reasonable for such a POS? I'm the first on the scene, so I've got first shot at this thing before he goes letting it sit out on shoulder of the road with a cardboard "for sale" sign on it. I just gotta know if it's worth considering either as either a toy/project or as a resale investment.
Heap some wisdom on me.
run run away when you hear that siren call. Come on they aren't expensive for a running model $4- 6 k and you don't need to start with ten gal of por15
http://panamacity.craigslist.org/cto/2488045698.html
it only took me three tries to find this one.
Not worth it if it's rusty, I have seen ones in similar shape minus the rust and trashed interior for around $1200 up to $3500.
Thanks guys... I was figuring it was a $500-600 car in my eyes, but I think that's even a bit high now. It is nice that it's one of the earlier chrome bumper cars, but otherwise it ain't so special. That said, in true GRM fashion, if I got it, I would just make it driveable and enjoy... no full resto or anything. And when I was done with it, sell it to the next victim.
As for now, I think I'll pass on it... got plenty of projects already... like pop's '61 Giulia waiting to be GRM'd.
Like they said. I've had plenty of Alfas, and while I like them, if you start with a better one you'd be much better off finacially. However, if you like torture and abuse, it could be for you! 
I bought an Alfetta like that once, and in the end, I could have bought a fleet for what it took to get it back up to working and presentable condition. You have to figure it is going to need everything and work down from there depending upon what you find during a complete inspection. From your description, it sounds restorable, but think about it carefully. I fugure no more than a few hundred.
