What I've noticed alot of motorcycle sellers, as well as myself; often include in the price is the sentimental value. Just remember to keep that out of it and you should be on track. I think the figure you have is accurate, in my opinion.
A few years ago a friend of mine wanted to get into biking and came to me for advice. He is a very short guy, maybe 5'3" at most. Anyway he bought this used V-Star 650 and since he didn't have a license he asked me to ride it home for him. Long story, short. What a cheaply made bike. Everything about this bike was on the cheap. As I rode it to his home I notices that I continually had to keep readjusting my seating position because I kept sliding forward into the gas tank. The other thing was that the power was absolutely anemic. None at all. This bike was very low miles. If you are contemplating purchasing this bike I would urge you to reconsider. My friend didn't buy the classic but the other model. Anyway, I'm sure that you would not be satisfied for more than a minute with this crappy bike.
The NADA site gives the retail and wholesale figures that the banks and credit unions use to make loans. Never pay more than some amount between the NADA retail/wholesale.
I surf the CycleTrader site occaisionally and I am usually greatly amused at the ridiculous sums that the sellers like to demand for 5 year old Japanese cruisers because they bolted a bunch of chrome crap on.
Whatever price you pay, make sure you have the rear hub checked. There have been reports of premature spline wear. If there is a lot of up and down movement where the shaft enters the hub, walk away from the bike. The fix can be over $800.