Winchester 1897 16gauge value

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I am looking at a 1897 16gauge that made in 1911, it is an E non take down gun. It has been in the same family since it was purchased new, no one in the family wants it and it has not been shot since the late 80's or early 90's.
The gun had not been cleaned in decades and was gummed up, a friend of the their family cleaned it and told them it was worth $350 to $500.

I saw the gun today, it has about 5% bluing left and the stock seems sound but has gouges and scrapes all over it and was refinished maybe in the 70's early 80's and that finish is wearing off. The gun does seem mechanically sound and solid, just cosmetically very rough, but hey it is a 102 years old.


So the question is, what is it worth? My guess is $300 to $350 but I do not know, I would like to have a 16guage and I like 1897's but I have no real idea what to offer. The man that owns it said he would like $500 but he is open to offers.
 
$300-$350 sounds about right to me. I just bought on in 12ga with a bit better finish for $400. So given the poorer finish, but the slightly rarer 16ga chambering, I think $300-350 seems fair.
 
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