What I would do would depend on my opinion of the old fella.
If I thought he was a bit senile then I would definitely give him half as I would not want to feel like I took advantage.
But if he is compus-mentis then there may be a reason he doesn't want to share the profits and by doing so you might embarass him. Now I don't know you or your circumstances but perhaps he is well aware of what it is worth and is trying to help out someone who he thinks needs it. We did that to a single mum friend whom we sold our perfectly good tent to for $50 so that she could take her kids on holidays.
Bottom line I would very likely put his half in an envelope, try to give it to him and if he knocked it back again I would keep it guilt free.



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