Its hard to say because youre dealing with a Mk1. I see a lot of Mk3s for sale, but it seems the Mk1 and 2s are hard to find, at least in decent shape. I mean I understand the Mk3s are newer, but come on! we're dealing with a matter of 4 or less years, and more mk1s were made than any others, yet you rarely see one. Spitfires are the same why IMO.
As far as price, from what Ive "read" this seems fair. However I dont know how many years ago this price range was mentioned. As far as ebay goes, one of any body style in good condition bids around this, but never makes reserve. They always have a reserve. Why? Well come on, its clear that a lot of money was spent on restoration, and for a show winning rare classic that is drivable, $7000 on any such vehicle is just a crime. I mean, thats one step away from having some idiots insurance company write you a check for $1000 because they totaled your mint condition car. Like you could replace it for that and in that good of condition. Thank god for collector car insurance.
Im pretty sure however seeing a mk1 or 2 be listed with a reserve many many times and finally selling for $13k. I think if you got enough people who wanted a GT6 together, you could see $15k for an excellent condition GT6. Thats why I plan on driving mine when I get mine running. I know as soon as local yuppies see this car they'll want one, demand will rise, and so will the prices. Especially if they find out how affordable they are! A lot of future checkbook restorers there will be! So get yours now! 5 years ago, not ever knowing what a GT6 was, if you showed me one in great condition and asked how much I thought it was worth, I honestly probably would tell you $50k+. I know that probably sounds silly, but thats what I would have told you.