Your cost basis for a timber sale is usually zero. The logger's profit is irrelevant. Timber basis is not the cost of the property. For a discussion on Timber Basis, see https://www.extension.purdue.edu/extmedia/FNR/FNR_FAQ_2.pdf
If the decedent was carrying a timber cost basis (unlikely) and you have those records, your cost basis will "step up" to fair market value on the date of death. In that case, you would likely have no gain or even a capital loss for tax purposes.
