The Winchester Model 1901 is just a beefed up version of the Model 1887, designed to handle smokeless powder shells. The 1901 was 10 ga. only, with a 2-pc lever. Obviously, condition and barrel length affect the value. I've seen asking prices on GB from $1K to $4K, but I think that's ridiculous. I think a realistic value for a VG condition 1901 would be no more than $1500 (short barrel or agency marked shotguns would bring more). The 1887/1901 lever action shotguns are not a lot of fun to shoot...their actions are finicky and require some serious effort to eject and load the next round without stove piping, and the recoil is substantial. I have a reproduction 1887 (12 ga, 20" bbl.) that I'm not afraid to shoot, but it's recoil can be punishing even with a butt pad. Just remember that John Browning did not want to design the 1887 as a lever action shotgun but was forced to by Winchester because of their reputation for lever action guns. He wanted to design a pump action shotgun...and that became the 1897.