I saw that one too.
I bought a similar truck in SD with no engine or bed. I think that the bidding stopped at about the value of the truck given location and condition. If the truck were on the east coast it could be worth twice that, as most of ours are rusty.
When buying a truck buy the most complete rust free one you can find, the extra money spent on a good start is saved tenfold during the restoration.


1951 GMC 250 in the Project Journals
1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
1952 Chevrolet 3800 pickup
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"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-