OldIHC

Nice re-built runner on ebay if anyone is looking.

https://www.ebay.com/itm/1947-KB1-Inter ... SwaY9btiO8

Every engine on eBay and Craigslist is rebuilt. Or, did I get that wrong?

The truth of the matter is he'd be lucky to get 1/3rd of his asking price. I've bought "core" 855 Cummins engine that had a fresh re build for 1/2 what he was asking. Sad part is who ever paid for the rebuild will have more in it than the asking price.
So many of the older engine are yanked for the same reason he did. There is little demand for them in any condition. Demand and avaiablity determine price.

I agree with CB89.
I bought another Cummins 4bta for what he is asking. the 4bta starts and runs nicely. I will give it a can of rebuild Cummins Paint and try and double my money. I bought an insurance recovery Cummins 5.9 24 valve for $2500, plus tax. This engine was in a Ram 3500 that went on a test drive and never came back to the dealer. The report suggested less than 2000 kilometers.
If this engine were close, I would venture $100 maximum then donate it to a local truck museum.

pretty crumbly looking edge to supposedly new head gasket, and black paint over spray on distributor,

rebuilt by Krylon maybe