A 69 SS 396 Camino I've had my eye on for a while just went up for sale but I think he wants to much for it.

It has a Muncie 4 speed on the floor but it has some obvious defects up close, looks like hidden rust in the bed.

The guy wants $14,000. car looks pretty good from 3 feet back all over.

I didn't think El Camino's were bringing that kind of price range.

Am I wrong?

Completely depends on the particular el Camino you are looking at.
Is it documented as an SS 396 option? What hp 396? The four speed is a bonus, in my opinion it makes it worth more. Does it have the factory tach? Bench or Buckets?
You can usually find covered rust issues with a magnet. Lay down some waxed paper first to protect the paint. Use a magnet wand, they are easy to come by and have a convenient handle!
Got any pics?

Dan