Can't tell you the history but from looking around myself atm, I would say that TD5 Defenders have slipped quite a bit, to the point where the Red Book price is about right 
That makes this a little over the market price for a private sale TD5 and I would expect to pay around that money for a dealer car (3 month warranty). You'll certainly find more with the milage and equal or better condition. Bargain hard, though, if you like this one. The rust might well be the tip of the iceberg.
				
			 
			
		 
			
				
			
			
				Steve
2003 Discovery 2a
In better care:
1992 Defender
1963 Series IIa Ambulance
1977 Series III Ex-Army
1988 County V8
1981 V8 Series 3 "Stage 1"
REMLR No. 215
			
			
		 
	
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