Valuation needed soon!

I do not own any third Reich police Lugers, and have just been offered my first one, and don't know what it is worth. It is being held for me for 24 hours until I make up my mind. Description is as follows: 1940 Mauser Banner, E/f police marked, matching magazine (this is the mag #1, too bad #2 is not present), original finish 99% or better in and out, mirror bore, has traces of what appears to be cosmoline in spots! Stripped it down and all parts match down to the firing pin and the beautiful wood grips. The seller is stuck firm on $1500. My guess is that this is a fair price, but not a real steal, or am I wrong? Reply needed soon!