Some dealers (antiques too) will defend their pricing to the death, believing that it only takes one mug and they're made. I looked at a pre-war BMW that a dealer had bought at auction (so knew his price) nigh on three years ago and he still has it, having withdrawn it from sale, moved it around his mates at higher and lower prices. He had done no prep when I drove it - flat spotted carbs, and now he's describing it as needing clutch repairs - you really do wonder.
Of course, every now and then, they run out of money. I bought two fantastic antiques from a dealer at a fifth of the original asking prices as he needed cash, on the spot, then.
Janner is not far out on that one. The leather is in a poor condition for a restoration too.