The seller also has a 1952 M-38 for $1300.

“Title says 43 but its a M38 made on a couple of years in early 50’s. Flat fender. Needs some body work mainly on the interior back. L head engine. I do have the correct grille but not the right windshield. Have for $400 a M38 top with data plates, and for $1300 a 52 M38 with a 302 that runs in it. No brakes and needs lots of body welding.”

http://wenatchee.craigslist.org/cto/2519463261.html

UPDATE: **SOLD** Was $5500

“1953 Jeep CJ-3A (AKA M38A1, FJ, CJ, Willys depending on the application)
VIN MC11719

This jeep has been in our family since the early 80’s. My Dad then allowed some of his workers to use it for side jobs, etc. and it was used as a work jeep. It underwent an amateur restoration (there is some bondo in places) by one of his workers in order to provide give him some work.

It starts and runs fine, it leaks oil, and the brakes are fine.  They were actually re-shoed by a local San Antonio Company (took forever to get those right) tires are good, etc.   The oil leakage is minor. The windshield has cracks from being dropped when lowered during a quail hunt by an over anxious teenager.
The physical attributes are that it has a 4 cylinder flathead motor – original, Warner 3 speed manual transmission with Transfer case.  2 wheel drive-High, 4 wheel drive-High, 4 wheel drive-Low.  It all works as designed.  This is a driver, top speed about 40 – 45mph.  Should you not want to drive to your off-road destination, there is a town bar that will allow you pull the jeep at 70 mph very comfortably.  At one time we had it wired so you would connect the lights to the pigtail of your pickup.  The wiring is still there, but not connected.  The electrical system was converted from 24 volt to 12 volt prior to ownership.

We got creative, thought high back seats would look cool, so we replaced the bench pickup seat where eye level was just at the top of the window frame with VW high back seats.  The under seat tank was shot and we used a stainless steel square tank up until about 1 year ago directly behind the two high back seats.  We added a back seat to the back to carry extra passengers and used a 6 gallon red tank that is under the back seat.  The seat for the passengers in the back is from a school bus.”