If the SN is as you state, 88xxxx, that would date its shipment to late 1941, quite a while prior to the factory's use of a phosphate finish. The Australian military re-finished many of their Victories and pre-Victories in the 1950s. This may be one of them, and if so would probably have a "FTR" (Factory Thorough Repair) stamp on it, plus a 2-digit date. The grips are definitely not original. It might be a good shooter, but that's about all. No serious collectors would be interested, so it's worth whatever it would bring as a shooter. I'd guess $250-$350, depending on the buyer's interest and knowledge of what he is really buying. If you are considering its purchase, really lowball an offer and walk away if it's not accepted.