I agree. The guy is trying to make a buck and you can't fault him for that. Anything more than that is "emotional" or "sentimental" value.
Sure it's worth more in parts but you usually end up with your money tied up in the tractor for years before you see your initial investment back, let alone any profit. It's not like Farmall H's and M's, where there are a dozen within a 10 mile radius and you can sell off enough parts to get your money back in a week.
What was done to determine that "the magneto is shot?" What troubleshooting was done? Did you file the breaker points? Usually that's all they need to start working again. If you could make it run it would be worth 5 times that or more.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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