$200,,absolutely if the mechanics & bore are good and it's not pitted (too badly).
Any N frame is worth that IMO.
I'd give the guy a sad faced frown at $500 though unless you really love the thing.
Maybe $300 if I was tired and not quite awake yet! It'd look pretty nice all engraved.
It does look like it underwent the NavalJelly treatment. That will often leave patches of blue remaining in the flutes and some other areas and that matted soft grey color. Looks like the trigger case colors got hit too.
A lot of missing bluing, is no different than just some missing bluing if you're going to refinish the whole thing.
An auto shop glas bead blast and a hot salt blue dunk is an inexpensive refinish option if you do the disassembly/reassembly work.
Or just a oil and wire wheel burnish/polish job and then blue.
Rust blue it on Mom's stove top for a real inexpensive refinish.
Lots of project gun possibilitys in that gun. How about a 4" model or maybe a 5.
If you like a crisp factory original finish with box 'n papers,,then don't give it a second look. It ain't ever gonna be that.
But it's got lots of other possibilitys for those that like to mess with guns like this.
