[Mauser720]

nato -

Not having the "hold-open" installed is not necessarily a problem. Starting in May 1913, all furture P08s were to be made with the hold-open and all ones in service were to have it added. And all made after August 1913 were to have the stock lug included too. Most, but not all, will have the hold open.

If it has all matching serial numbers, that is desirable, especially if the magazine matches too. If it has not already been refinished, then it should not be messed with, because that will greatly devalue it. In other words, matching serial numbers with an original finish is best left alone.

The amount of the original finish left will determine the value, and that is why collectors will want to see pictures. If it has truly been parkerized, that is a shame.

In my opinion, it might be worth the $700 you mentioned in your question above, all depending on the finish.

And the 1913 Erfurts will have a rougher fit and finish than the DWMs of the same period too.