Mike's pictures were worth a thousand words.
What I see on Mike's gun is "best gun" features throughout. What I see on the gun currently being discusses are several examples of good-to-best features but the totality of the gun is inconsistent.
1. The forend latch and its engraving is best. It is identical to that used on best "Scott Premier" grade guns.
2. The long tang and horn grip cap are also compatible with a "best gun".
3. The animal engraving is crude by comparison to other Scotts I've seen of even lower grade guns. I even question whether they might have been added as afterthoughts?
4. The scroll engraving on the subject gun is good-to-premium, but does not match the best grade example Mike provided.
I do not know the novelty value of the lock design so that is a wildcard in assigning value. I think JoE is typically pessimistic on value. I think he prices things as the price he would pay for the gun, not the price the full market will bear for any firearm.
I guess I'd say that since it isn't in great shape, the question would be "what is a thoughtfully and conservatively restored example of this gun worth?". I think your gun in restored condition would be in $3500-$5250 value range.
The next question would be, "what will it take to get the gun to a position of "thoughtfully and conservatively restored condition?".
1. $400 receiver clean up, remove rust that matches the barrel browning.
2. Up to $250 of internal barrel work depending on pits, etc.
3. $100 to repair buggered screws
4. $150 to blue or black the appropriate pins, screws and furniture.
5. Gentle stock conditioning that is modest and conservative = $150.
6. Other unknowns? Springs? Off face? Triggers?
I see at least $1050 of repair/restore work, plus perhaps $150 in shipping and a year's time to project manage this work. So rough estimate is $1200 to put into this gun.
Future Value - Restoration Investment = X (Current Value)
$5250 (FV) - $1200 (RI) = $4050 (Current Value) on the High End.
$3500 (FV) - $1200 (RI) = $2300 (Current Value) on the Low End.
Just my guesstimate. It is certainly a conversation piece!