To answer your question, you have to look at the following first.
The value of an unrestored 195 could be as little as $200.00 or as much as $700.00 depending on a whole lot of factors.
How complete is it?
Is the engine in good condition or does it need to be rebuilt?
Does it have the E-30 HyLift kit on it?
Does it have the rear PTO and Flow Control Valve Kit?
What is the general condition of the tin on the tractor? Is all the paint fairly good or is it badly rusted and or bent/dented?
What are the tires like? Can they be salvaged and used or does it need new rubber?
Those are some of the questions any collector/restorer has to ask himself when he is looking at an addition to his collection. The other factor is what it will cost to put that tractor into your garage in the way of shipping expense?
On the flip side, you have apparently found something local that is presumably complete and in good condition all around. Whether it is worth $1200.00 will depend upon the quality of the work done in the previous restoration. If you don't like what you see and you feel compelled to do it over again, then the tractor is overpriced. But if you are content with the workmanship, then it's probably worth the asking price. However, haggling is an important part of any purchase. :sidelaugh: Get it for as little as you can. :thumbsup: