Albert Barnes Commentary 1 Kings 10:29

"And a chariot came up and went out of Egypt for six hundred [shekels] of silver, and a horse for a hundred and fifty; and so for all the kings of the Hittites, and for the kings of Syria, did they bring them out by their means." — 1 Kings 10:29 (ASV)

Valuing the shekel at about three shillings in our currency, six hundred silver shekels would be equal to about 90 pounds, and 150 shekels to 22 pounds and 10 shillings. An "average" price seems to be intended in each case. We can explain the comparatively high price of the chariot by assuming that "chariot" refers to the entire equipage, including the car, harness, and at least two or three trained horses. The "horses" mentioned separately from the chariots are not chariot-horses but chargers for the cavalry.

The kings of the Hittites. The kings referred to were probably Solomon’s vassals, whose armies were at his disposal if he required their aid (see the note on 2 Kings 7:6).