The factory seats are removed and replaced with aftermarket. Do you have any idea what a set of factory seats in excellent condition are worth? Yes, I consider the modifications to be extensive. Yes it is crazy, that is the Ferrari market for you....there are plenty of cars with no stories. When people are shopping for a $100k plus car, they will naturally gravitate to the cars with no stories...that is just they way it is, you don't have to like it, nor am I asking you to like it.
I'm not sure where in the country you're located, but if you decide to purchase the vehicle despite its collision history, I recommend hiring a local, live appraiser (not an Internet diminished value calculator) to thoroughly investigate the history of the vehicle, corroborate the nature of prior body work, and give you an accurate appraisal of the vehicle's value considering its collision history. You will have trouble liquidating the vehicle later - you will have to offer a discount to find the right buyer. So hiring a diminished value appraiser now can help you set the appropriate price point to ensure that you make up for that later liquidation discount at the initial purchase. If you are anywhere near the Pacific Northwest I know of several appraisers who can help you. Best of luck! Galileo Law PLLC, by Paul Veillon, Washington attorney.