Considering that a recent 289 sold for $440,000 (?) and a comp car sold for $1MM, $785,000 seems in the ballpark to me. Fantasy Junction isn't known for selling anything cheaply.
I saw this car at Hall Fabrication when my Kirkham was being fitted with its engine and tranny and I thought it looked nearly flawless and those are REAL MAGNESIUM Halibrands.
The ad also says that the $300K+ resto includes "fastidious maintenance."