OK... I did it. $50 was my top limit as well, and I shot him an offer (even though he has no Best Offer option listed). I'm probably not as good at bleaching as you, Rob, Rob and Greg.... but will try the 60/40 mixture, assuming he accepts the $50. I'll post "before and after" pics, if so. If he rejects it, I'll walk away from it, and not negotiate any further.
Rob... If your boredom continues, and you want an "experiment" to take on, there are a couple more Reds Pennants that appear very bleachable and are well below market value...
https://www.ebay.com/itm/Large-1961-...!-1:rk:76:pf:0
https://www.ebay.com/itm/Vintage-196...Ni6:rk:94:pf:0