A Flues Grade 2 16 ga that was restored will certainly be worth a bit less than one that is all original and is in high condition. However, restorations of Ithaca graded guns, if well done, are probably a bit more acceptable to many collectors than they were 10 years ago, simply because there are just not that many "out there". While restoration does hurt the value a bit as compared to one that is in fairly high all original condition, a restored gun will bring more than one that has not been restored but is in poor condition. The problem is that a good quality restoration may cost more than you will realize in the sale. However, if you would rather have a nice looking gun to shoot as opposed to a "beater" that is certainly justification in spending the money. JMHO