The average price for a complete body work, panel alignment, and paint is usually $8K to $10K, or more. And that's if it doesn't need a bunch of metalwork to get the gaps right, etc. But it depends on the area of the country you're in. It is possible, but I'd say you're a little low to get a nice job done unless the guy is a friend.
By the way, that car has some nice pieces on it.
Jody