Wa title transfer gift question

[spathid]

So, a couple of friends of mine gave me their old car. I have heard tell that if we don't put the correct sale price amount on the title transfer documents either one or both of us will end up paying some rather exorbitant taxes on it later. I don't know if it needs to be 'one dollar' or the bluebook value or some other randomly selected mish mash of numbers.