I would look for a price between $600 and $1500. Large range but that is what I have seen them go for. As far as condition goes, there is nothing on the Hensley that is not easily replaced or rebuilt. The paint will probably look terrible but that is common. The most common place for wear would be the bar insert bushings located on the bottom of the black head piece. It is held on by a single bolt/nut and is usually gold in color. It is where the bars insert into the head and, if not kept greased, will oval out and even split some times. It is not a terribly expensive replacement item.
The other common wear area would be the tips of the spring loaded grease zerks inside the hitch head. They are normally bullet shaped on the end but after a while will wear down with a flat surface or break off and eventually will not hold the bars in the head. Easily replaced and not expensive. Just use a wrench to take out the zerk and inspect them.
Hensley will probably not swap out the bars for nothing. The bars are just normal EZ Lift round bars anyway and can be purchased anyplace that sells EZ Lift equipment.
If you want to see what some of the parts I am talking about look like, take a look at my hitch rebuild post
here.Barney
