It's painted pretty but I would have to hear it run before I paid him very much for it. Agree that a compression check is a good idea. chek oil for water and water for oil. check exhaust for white, blue or black smoke.
So far the price isn't bad. The sniping will happen the last few seconds of the auction so set a price you're willing to pay for it, don't succumb to auction fever at the end of the auction and bid more than you feel is a good price.
The nice thing about this engine is it looks like it's still mounted in the frame and you might be able to hear it run. I never like to buy an engine without hearing it run first. The seller has listed a lot of work done to and many new parts that can up to big bucks. Since it's close by take the advise offered above and go check it out. You will have an advantage over most of the other bidders because you were able to inspect it in person.
From the pictures, the frame is clean and rebuilt. So is the tranny, etc. The engine is very clean. I don't think that the guy would go through the trouble to clean up and paint a bad block just to sell it and "screw" some one.
Judging by his work in the pictures, I think that the flathead is safe.
That was exactly my thought. I mean, there is the occasional nut who would do something like that just to screw people, but I tend to agree with you Ilya. I put in a moderate bid, but I imagine it will go for more than that before this auction is over. We'll see. Thanks for everyone's opinions.