Yup. But if there is a demand, and people actually willing to pay such an amount for a clean car, as suggested by dayrider , then there is nothing wrong with it.
The fact is maintenance cost of Reborn is dirt cheap due to high reliability and availability of parts. It is the current Civics that are over priced as they have so many manufacturing issues that cost above 5 lacs to resolve. The cost of Cvt transmission alone cost 4 lacs to replace.
No such issues with a Reborn. It is a 14 years old car but drives as new since I have spent about 2 lacs to restore it to spec after buying. Looking at the market prices, I would never part with this gem under 21 lacs. Take it or leave it.