'37 F-12 value?

I had a person call me and ask if I was interested in a tractor they have in the barn. Went look at it, found out by serial number tag it is a '37 F-12 on steel. It appears to be grey but i thought in 37 they went to red. It is missing the mag, and both tanks have rusted through along with the hood. Engine is free but no compression. It is located about 15 miles from the house in South Louisiana and wondering what ball park value is on it? Got to make an offer.
 
$300 to $400.$50to $100 over scrap iron.There still lots of F-12 out there.Not a whole lot of demand anymore....
 

On steel is a pain in the butt. Great for killing ground moles an digging uo ground hogs out though. It rips the heck out of a trailer floor.
 

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