Gun Runner
A fair value is one that makes both the buyer and the seller happy. I wouldnt go any more than $125 for it.
For me its all about opportunity cost what else could I get for the same money? Although I often look at military rifles at the gun shows I have never bought one. The problem is there are simply too many good, used, modern firearms in the $200-$300 range for me to justify buying an older rifle and spending money on it. Heck, if I want an inexpensive .30-06 rifle that will shoot as-is or for the basis of a project gun, Ill run down to any of a number of local stores and buy a new Stevens for $199. Or a new Savage with an Accu-Trigger and scope for $329.
Heres some of acquisitions Ive made in the last 5 years:
$250 == Marlin .45-70 (made in 2000), like new
$350 == Marlin 375Win (made in 1981), included $100 of ammo and dies, excellent condition
$225 == Marlin .30-30 (made in 1989), excellent condition
$400 == Ruger .257 Roberts (made in 1989), with Leupold M8 4x scope, like new
$225 == Ruger .357 Blackhawk, stainless, like new
$375 == Ruger .300 Win Mag, NEW
That said, if youre a fan of military firearms the fair price might be much higher than anything I would be willing to pay.