Looks like a Llama Model III-A (sometimes called a Model 3-A). It may have had a slightly different factory model designation if the (nickel?) finish and engraved surfaces are factory.
The III-A was a blow-back operated pistol and didn't have the swinging bbl link. The bbl is secured to the frame with the slide stop lever.
They also made the same pistol in 380 with a locked breech like the Colt 1911 and it had a Model VI (Model 6),,Just slightly heavier too.
The Model III-A was made with an aluminum frame too, but I don't recall the Model designation assigned to it Perhaps XVI (16) or XIX (19).
A few Llama Model III-A pistols will be found marked 'Mugica/Eibar'
He (Jose Mugica) was a arms wholesale since the 20's or 30's and sold alot of Llama pistols all over the world with his name and a different model designation on them.
I don't know if one this late of manufacture would be marked and sold by Mugica.
There should be a series of 3 Spanish Gov't proof marks somewhere on the frame. One will tell you the year the pistol was proofed,,eccentially the year of manufacture.
The 'triad' of proofs as they call them are sometimes underneath the grip panels on the later pistols. They were usually easily seen stamped in the open on earlier ones.
It looks like they may be stamped on the frame just above the trigger on the left side.
Here's a link to the proof codes and some info.
They are the same for all Spanish mfg semi auto pistols since 1927.
Star Firearms Production Dates By Year Code
It looks like a very clean, hardly used pistol. As to value,,check GunBroker, Auction Arms, ect completed auctions for pistols of the same description and condition to get an idea of what they sell for.
I usually disregard the extremely high and low sales prices.
Bidding war pricess and once in a while extreme deals I take out of the picture to better get an idea of market value.
I'd personally guess that it would sell for around $300,,+/-.
