If it's a plain-jane 1/4 ton trailer in good shape, $1500 is toward the high end of pricing I've seen. However, people do get that kind of money for them, depending on local demand.
The market for 'toy" type goodies is soft in general because of the economy, so pricing on things like trailers and large 4x4s are down somewhat, although recovering some from the lows. It's a fact that this may continue to put downward pressure on prices, but that depends on the seller, who may be doing fine and can afford to wait and see if they can get $1500 for it.
We paid $700 for our M101 CDN last year and I consider that to be towards the low end of the market for them from what I've seen. That included conversion hubs to use LC lug pattern, but needed wiring, lights and paint. Getting it sandblasted, painted, tarped, and new tires to match the prime mover means I have sunk a good $2000 into it.
It's in great shape, but I don't think I could get $2000 for it. However, I'd lean toward asking $1500 as a starting price if I sold it, because the improvements are basic and obvious enough that a buyer would be willing to fork over that kind of cash for something he couldn't do himself as cheaply.
What type military trailer are you asking about. I have a couple of 1/4 ton military trailers that I bought for around $400 each and a 3/4 ton military trailer I paid less than $200 for. All were stock for the most part.
