Norm has given very good advice..There are restorations and there are restorations. One on a pistol like this would have to be done correctly first of all but EXTENSIVELY. Every pit filled and filed. Proof marks refreshed. At the end you would be offering essentially a reproduction pistol..not what it EVER was. Although interesting it is not the holy grail of Navy pistols. IF it were in even 75-80% condition it would certainly be worth $7,000. As is I have to agree with Norm..$3000 is as much as I would pay. Mayhap someone out there would pay more. Suffering through a restoration could bring you a bunch of agony. Not knowing the right guy to send it to. Not knowing the questions to ask..then after a great deal of time and money..trying to re coup it on the other end. What? To make another 500-1000? Maybe?
If I were going to send this one to anyone on this Planet for the best restoration in the known World it would be to Gale Morgan. I know another handful of GOOD restorer's-bluers and no disrespect to these great craftsmen but Gale would do this treasure justice..the right way. You are not shopping price here but skill. IF you were to put the money into having it done RIGHT I think you MIGHT get it out of this pistol. A collector would do this and not care about the cost..a re seller HAS to think it over carefully.
So I guess it depends on how much trouble you are willing to suffer.
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Jerry Burney
11491 S. Guadalupe Drive
Yuma AZ 85367-6182
l ugerholsterrepair@earthlink.net
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