i can tel you this much ... get yourself a ball park figure and double it n youll hopefully have things about covered... i just ordered an engine kit for my 47 pickup today... that cost about 2400 bucks.. im guessing ill have at least 500 in machining.. and ill be spending ply another 1000 at least on odds n ends like headers, carb kit, ignition system, water pump rebuild kits and the list goes on.. those #s come to about 4 grand and i was thinking at least 5 so wel see how it turns out... im sure there will be more.. good luck
man idk.. is it seized ? i bought 2 47 half tons together with some very minor tune ups n fiddling around i managed to get them both to run... so the engines themselves were in decent shape for what they are... i payed 2500 bucks for the 2 pickups... i guess it depends where your from and who wants them bad enough.. tose old flatheads are getting more and more rare.. if its seized and needs a major overhaul i dont think id pay more than a few hundred but you might find a hardcore flatheader that will pay through his nose
OK Ball park . To clean ,magnaflux , bore , maybe pin a couple of small cracks in the deck , install a couple of sleeves , bore for oversize pistons , grind and polish the crank , install cam bearings , rebush and hone the rods . Then you need parts gasket set , pistons and rings . main and rod bearings , oil pump , 2 water pumps , grind flywheel replace clutch assembly , fuel pump , rebuild carb , rebuild or replace distributor . $5000.00 depending on how much of this you can do yourself . Also I probably forgot a few things .