Are you buying it to run and use? Restore? Parts? Different answers for each. Right off the top of my head, there is $200 in weights, $400-$500 for the front end, and another $200 for hood/grill pre-cleaner, and if the left tire is decent (right looks shot) another $200, $175 for the fenders.
If you are looking just to get it running and use it, I am in agreement with the $400 +/-. Break her down into parts?.... maybe bump it up another $100-$200 or so. You do the math.
So, bottom line is what can your wallet stand and what do you want to do with it. If I were dealing to get it, it would be a parts tractor, and I would have no issues ending up around $500 for it in my area.
ps. WFE and Fenders are pricey parts regardless. Go price them separately.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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