Did I pay too much?

That’s a question only you can answer. Given its size it’s probably at least 50 years old. Given the sagging backside (hey, it happens to all of us eventually), it has lots of rot and will need substantial rebuild anyway. The questions you need to ask yourself are:
1) Are you planning on camping in it or reselling it? (If reselling, you’ll never break even.)
1) Do I want to spend hundreds of hours and another couple thousand bucks to restore a piece of history?
2) Does your significant other think you’ve lost your marbles?

In any case, you will need, at the very least, to support the rear end somehow and replace the tires. A better option would be to rent a flatbed, support the rear, tie it down really, really well, and transport it home.

Good luck and let us know. Post pics tomorrow if you can.

sounds like a deal to me. Yea the picture thing sux on this site. This a great site but I don’t know why it can’t be like other sites to upload pictures straight to the site without jumping through hoops.

In answer to t33's question, the most I have ever paid for a trailer of any size is $500. And the only reason I paid that much for it was because it was VERY rare...