Don’t panic Mal, I got the joke if no one else did 
I would ask a couple of MX-5 specialist dealers to give you a price for buying the car. Get the best price possible and add 20%.
Hi Chaps,
I can only base this on the Indiana.
One with 12k sold at auction for £5200 and that is now up for sale at £7k
We have just bought our 10k example for £6k
Its not been in the rain and has been used sparingly by an enthusiast, serviced every year regardless of mileage.
Ive bought this one as something to enjoy and also an investment.
Mk1 prices seem to be on the rise and Im hoping the Mk2 will follow…if not no worries…I can just enjoy it…
John
Nice position to be in MisterT
I think a number on here would like to swap places.
My advice is to pay what your relative is happy to accept and you are happy to part with at this stage.
I would then get the car thoroughly sorted, enjoy some driving through the summer and make a further payment, if appropriate when the true value of the car becomes clear.
The peeling veneer is probably due to winter moisture whilst it has been stored, unused for a period of time. It would be worth getting restorative work done or buying new bits if still available.
Richard N was probably fair in his suggestion, taking in to consideration some work to do and what is a good rate for the car.
Harvards have always run slightly higher than comparative mk1 special editions and remain desirable. Yes Mk1s are on the rise, but its very easy to see a distortion through the ‘Club’ lens, there are still many thousands of mk1’s out there (here and Japan), yes the good ones are getting fewer and further between and the pound is pushing import prices high at present - but essentially they are still out there and still do come up regularly, temper your offer in a grounded value and not emotion. Just as a few are advertise for sale at silly money doesn’t mean they sell. There’s a good Harvard near me in great shape with 75K that will go for about £2750, needing a new hood, so taking into account the mileage and condition, realistically about another grand should be about the right territory.
The wooden dash stickers can be replaced if needs be MX-5 parts have a kit that matches fairly well the original fitted to the car. http://www.mx5parts.co.uk/dash-mk1-1989-1998-right-hand-drive-p-2663.html
Prices really do seem like they’re on the up!
http://www.kgfclassiccars.co.uk/details.php?cid=701
http://www.kgfclassiccars.co.uk/details.php?cid=704
Really like the look of both of these.