This car was for sale two or three years ago for 10K! The next year it was listed again with no price so I called and it was down to 9K.
As a local example I just bought this one:
http://www.bmw2002faq.com/component/option,com_forum/Itemid,50/page,viewtopic/t,344953/
It is in about the same shape and all original 1600 - although I put different wheels/tires on it - I drove it half way across Wisconsin (I was a bit worried when the owner said it had not travelled more than 20 miles in one trip since 1982).
I probably paid too much for it but I am a sucker for 1600s.
Tim