From what I've read recently, Jim, if it's an American Chestnut and it's not all eaten up with blight, you might do well to give the guy whatever he asks...because you may never see one again. Then again, everything you read on the internet is true, right?
Seriously, the American Chestnut was nearly wiped out a while ago and the tree guru's are trying desperately to engineer a comeback, but that's another story. But I digress...
if it was me buying a good-looking 2' log I'd try to get it for @$10 - good luck!! If we were still in NC I'd love to go with you.
Russ