Hi Whooligan,
You are correct with what you are saying.
In your example you are highlighting "purchasing" and "buying". (relating to the purchaser)
The dynamic opens up if the seller is also considered who wishes to maximise his price.
This then becomes the art of negotiating between both parties.
Theory aside, I think $35k is a reasonable and fair amount to pay if the car is complete and well kept.
Anyone who has restored a car will know the real dollar price and time price of a restoration.
Often $35k can be absorbed into paint and panel and basic mechanical work alone before other factors are included.