Neat mower! From what I can tell in the photos, aside from the recoil that is going to need some attention, it looks like it is complete and in good original condition. I looked up the year and it is a 1949, same as Bruce's machine. Pretty neat that it also comes with the Eclipse as a package deal too!
In regards to price, it really comes down to what you're willing to pay. Reel mower collecting has not caught on (yet) like LawnBoys have so there is really not a market value to base them off of which can make pricing them tricky. If the machine has sentimental value to the seller, it's not uncommon to see these types of machines listed for doube or even triple what they may actually be worth. Other times you'll see a screaming deal out there as the seller doesn't know anything about it and simply wants it gone.
Realistically for a Lawn King that is complete, and in fair shape, somewhere around the $100-$150 range (+,-) is a very general ballpark figure of what I've seen many of them listed for in the past. I believe that I paid $175 when I found mine. It really depends upon how much you want it because when it comes to these, it is really more of a matter of love than anything else.
Something to keep in mind for future reference is that the ignition system is sooner or later going to need to be gone through as the original Wico components in these have already cashed in on their AARP. A reliable solution that totally modernizes the ignition system, and works great with these old Jacobsens I've found, is a Nova II ignition module hooked up to either a new coil that is made to work with the kit, or, hooked up to your original coil if it's still strong. This by all means is not something that should detract you away, but something to keep in mind.
Keep us updated and thanks for your interest on a very unique piece of mowing history!
