Kelley blue book(KBB) lists the Private party value(PPV) as $8600. Everytime I buy a used car from a dealership I negotiate to pay the KBB PPV and always end up making the deal. When I buy from a private party I always negotiate to pay the person the KBB trade in value and always end up making the deal....so in other words the values in KBB are overshot, but they are useful if you utilize them as I do.
It is my opinion that the '95 5.0 5speed 'Vert you're looking at could be had for $8500-9000. I would absolutely, positively not pay $9800. And take into account that what is asked is NOT what they expect to get! They expect to have to bargain and ALWAYS pad up the price.
I am very experienced buying and selling cars, I havechecked many pricing resources and find the best way for me to determine prices is using the method above. I do also deduct for damage or blemishes. And by the same token I WILL pay slighty more for an impeccibly clean car.
I hope you buy it, or one like it, because Mustangs really are a lifestyle and I think that's a great feature for ANY car to come with! You'll really enjoy it!
Take care