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Not a lot to watch out for on the Ls really. I'd look at originality in manfolds, magneto and carburetor etc, before giving top dollar. Most parts and pieces are pretty easy to come by, not too expensive. Are you saying it is leaking coolant into the oil? Bad O-ring on a sleeve maybe... hopefully nothing worse. As far as sale price, it all comes down to location. Where you are and where the tractor is. In some parts of the country there's Ls everywhere and others there's hardly any. I was told that I was paying way too much for my '29 L by someone up north, but here in Texas it seemed cheap, since it was the only one I'd ever even seen at that time. I sure couldn't have gone up to Minnesota and got one for the difference in price. Around here I wouldn't think $1500 would be a bad price for a fairly straight running L. I sure wouldn't take that little for mine, but someone somewhere else might think I was way overpriced. I know my answer wasn't too definitive, but even being there to see the machine different folks will form vastly different opinions. The bottom line is "how much do I want it". If you're happy with what you get then I'd say it was worth what ever it cost.
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