Hard to say not knowing what all he's done to the truck. Supercharger? What kind of lift on there, spacer or suspension? etc, etc. But if all he's got is a clean truck with low miles, BFGs and a spacer lift, I'd say you need to ask him to come down to the $7k range or at least share some of what he's been smoking.
This, on the other hand, is a truck I would consider spending $10k on if I were in the market for one.
http://www.toyota-4runner.org/sale-vehicles/176194-fs-98-sr5-trd-sc-urd-bilstein-daily-driver-%2410-000-savannah-ga.html