I paid $14,000 for my '90 convertible almost a year ago, with 50, 000 mi. on it. The only thing not working properly was the airbag system, which I didn't know wasn't working til I saw the video on my car from GM. I've since had that repaired - it was just a ground fault of one of the sensors. Other than having to replace the battery and do other "regular maintenance" work on the car, I've already put about 6.000 mi. on it, including just returning from a 1,000 mi road trip - And the car's been great!
So, judging from my experience, and prices I've seen since, I myself might only pay $14k for that car if it were in pretty good, clean shape, with good tires, and after I had the all the mechanicals thoroughly checked by a good "corvette" mechanic.