Assuming you're looking for a retail value for this Luger, take a look at what Simpson Ltd has on sale right now:
http://www.simpsonltd.com/index.php?...be1ea8dff165e5
Prices range from just under $4000 to $7000.
None of those is the more rare E/K marked Luger from 1938 (This is an inspection / acceptance mark. The "K" identifies the specific inspector). These marks are specific to police usage. The inspectors for military Lugers were numbered and from a different agency.
Does the magazine have a matching number? That would contribute to a higher valuation.
Marc
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Igitur si vis pacem, para bellum -
- Therefore if you want peace, prepare for war.