Repair Shop rip-off, OCC fuel pump

For the past few years there's been a blue '92 CC at a house one block away from my house. I see it all the time when we walk to my in-laws in the summer sitting in the drive, if the owner is home. Well over the summer I noticed it was always there, weeks turned into months, without the car moving. I figured something was wrong with it and thougt of asking if it was for sale but since I didn't need it or have the cash to spare I just kept looking. Well fast forward to 3 weeks ago when it was gone but turned up at the local BP service station where I have seen this car a few times in the past.
Now that I'm looking for a wagon I called the BP and asked if the car might be for sale. They said it was and gave me the owners name so I called him. He told me he wants to sell it but can't find the title and doesn't know what it is worth. I asked if it ran and why it was at BP and he told me they just put a new fuel pump in for..........$550 I about fell over when he said that, $550 for a fuel pump? It really started to piss me off that this guy has been taking his car there for years and they charge $550 for a $60 pump and an hour labor. Now I'm afraid he is going to try to use that as a selling point but I think I should be honest and tell him they ripped him off, even though it might cause me to lose the car.
I don't know what it is actually worth, 1992 OCC, Blue/Silver, blue leather, not sure of the miles, clean with no rust, hood is faded but the car appears all there. I need to check the interior and miles but as it stands I was thinking MAYBE it would be worth $1,000? What do you guys think a fair price would be?

A rust free wagon is worth $500 without a running engine or trans. I'd say in good condition and reasonable miles, $1,000 is still a good deal.

Just so long as it's the L05, not L03 engine. Though Cruisers are getting a little hard to find so maybe regardless.

They might have put in a new sending unit too....that would bump the price up a couple hundred easy. ? But man...that is high.

$1,000 is a good deal for a nice rust free OCC. The L03s are not that bad. You get used to it. Lol

Good point Chris. Last time I saw it, the price from GM for an OE sending unit was around $400! Fuel pump, again from GM, is around $100. So I could see that job costing that much. Not that it's worth it!

92 OCC may be a "Holy Grail" of sorts to some here. If I could score that car for $500, I'd be ecstatic (and that's what I'd offer). But I'd pay up to 2 grand for one if it's rust free as you say.