I am a addict for early Winchesters. I have bought used vehicles and second hand shirts so I could buy another Winchester. Model 70's, model 1894's and model 12's are my heroin. The fact I live in an area where shotguns have little use does not weaken my need for just one more model 12. I keep an eye on what they cost, but giving a response to the op's question without details is about impossible. There are SO may factors to consider. Is it a pre war? Does it have an early Winchester built solid or vent rib. Is it one of the rare engraved models? Factory pad or ultra rare widows peak steel butt plate? As stated many things effect value. Pre wars add $50 to $100 to collects like myself. Pre 1955 models are more sought after than post 1955 models. Taking a wild stab at price and assuming it is an ordinary off the shelf model 12, the $700 dollar price tag is a tad high though I have seen a few very nice examples sell for that much. The 16 gauges were cursed and looked down upon in the 1960's through present day by people with little knowledge on the subject. But they are highly regarded by scatter gunners with some above average knowledge of the matter and may I add they may possess at tad more class as well. The model 12's are the ultimate in high quality manufacturing with few other gun coming close to the skill and effort put into its construction. Being milled from billets of steel, the weight of model 12's turn some people off. The 12's came in 2 frame sizes. The 12 gauges and the smaller gauges. The 16's were built on the smaller frame thus being sought after for their lighter weight.