The Knockabout comes from an era where most name brand guns were sound and shootable. Variations in quality had mainly to do with finess of finish, engraving, and wood quality. The Knockabout tends to minimal engraving and relatively plain wood. It is finished at a very servicable level, but far from a best work level. It is on par with the middle of the pack Brit BLE's.
Let me add that Francotte is a well known Belgian maker. Begun in 1805 the firm has produced all manor of firearms over the centuries. They have had contractual relationships with many other makers. The name may or may not carry value depending on the buyer. The "knock about" was the Francotte entry into the then growing shotgun market. It actually was a step above the high volume Belgian guns being produced at the time.
Historically, Americans have not valued many of the Belgian makers. Francotte has recently risen in name recognition. Possibly the only Belgian maker with higher name recognition is FN. A few years ago the knock about guns were selling for $500 or less. Today it is had to find one in good condition for under $1,000. The one thing to remember is that there are alot of them around. So it can be best to wait until you find a gun that meets your standards.
Pete